Latest news with #Anti-TerrorismFinancingandProceedsofUnlawfulActivitiesAct
The Sun
a day ago
- Politics
- The Sun
Mention of MACC's Ilham Tower forfeiture application set for Aug 6
KUALA LUMPUR: The mention of the Malaysian Anti-Corruption Commission's (MACC) forfeiture application for Ilham Tower, owned by the family of the late Tun Daim Zainuddin, has been fixed for Aug 6 at the Kuala Lumpur High Court. In a statement, the MACC said the application was filed on May 25 under Section 56 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act. The statement further noted that the MACC will engage with enforcement authorities in the United States to obtain legal assistance in initiating proceedings against assets linked to Daim, his wife, Toh Puan Nai'mah Abdul Khalid, and their proxies within that jurisdiction. On June 25, MACC Chief Commissioner Tan Sri Azam Baki confirmed that the Commission had filed a forfeiture application in respect of the 60-storey building, which forms part of the latest series of assets identified for forfeiture proceedings involving the former finance minister, Nai'mah, and several of their proxies in Malaysia.
The Star
2 days ago
- Business
- The Star
Mention of MACC's Ilham Tower forfeiture application set for Aug 6
KUALA LUMPUR: The mention of the Malaysian Anti-Corruption Commission's (MACC) forfeiture application for Ilham Tower, owned by the family of the late Tun Daim Zainuddin, has been fixed for Aug 6 at the Kuala Lumpur High Court. In a statement, the MACC said the application was filed on May 25 under Section 56 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act. The statement further noted that the MACC will engage with enforcement authorities in the United States to obtain legal assistance in initiating proceedings against assets linked to Daim, his wife, Toh Puan Nai'mah Abdul Khalid, and their proxies within that jurisdiction. On June 25, MACC Chief Commissioner Tan Sri Azam Baki confirmed that the Commission had filed a forfeiture application in respect of the 60-storey building, which forms part of the latest series of assets identified for forfeiture proceedings involving the former finance minister, Nai'mah, and several of their proxies in Malaysia.- Bernama
Focus Malaysia
4 days ago
- Business
- Focus Malaysia
MACC targets RM4.5 bil in undeclared Daim assets across five countries
THE Malaysian Anti-Corruption Commission (MACC) has uncovered undeclared assets worth at least RM4.5 bil linked to the late former Finance Minister Tun Daim Zainuddin, his family, and proxies in five countries — the US, Singapore, Japan, Italy, and Jersey (a British island near France). These assets include condominiums, commercial buildings, bank accounts, a hotel in Japan, and a shopping mall in Italy. MACC plans to seek restraining orders to freeze them, with assistance from foreign authorities. 'All of these assets and properties were not declared to MACC during investigations conducted in 2023. Therefore, a restraining order will be sought soon, with help from the relevant countries,' a source said. Earlier, MACC froze seven properties and one bank account in the UK worth RM758.2 million, believed to be owned by Daim's wife, Toh Puan Na'imah Abdul Khalid, and her family. MACC found that the assets are linked to alleged offences under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001. However, on June 23, the Kuala Lumpur High Court temporarily suspended the freezing order after Daim's wife successfully challenged it through her lawyer, Datuk Dr Gurdial Singh Nijar. MACC is also seeking to seize Ilham Tower in Kuala Lumpur and has opened eight investigation papers based on new information from foreign agencies regarding Daim's undeclared assets during the 2023 probe. —June 29, 2025 Main image: Malay Mail
New Straits Times
4 days ago
- Politics
- New Straits Times
MACC faces legal hurdles in global asset freeze pursuit
KUALA LUMPUR: While Malaysian authorities have the legal power to freeze suspected illicit assets through court-issued restraining orders, enforcing those orders abroad is more complex, often requiring separate legal applications in foreign jurisdictions. A legal expert believes the Malaysian Anti-Corruption Commission (MACC) may face an uphill battle in its ongoing efforts to trace high-value assets allegedly linked to the late Tun Daim Zainuddin, his family members, and proxies. The challenge lies in cross-border legal procedures, which may require the commission to either file separate court applications in the respective countries or rely on formal mutual legal assistance (MLA) agreements to take action. Former Malaysian Bar Council president Salim Bashir said such restraining orders, issued under Section 44 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLA), were typically the first step in freezing assets suspected of being linked to criminal activities. "A Malaysian court order allows enforcement agencies to request mutual legal assistance from the Attorney General's office of foreign countries, where the assets are located, to trace and enforce the order," he told the New Sunday Times. However, he said not all foreign jurisdictions accepedt Malaysian court orders automatically. "Some countries require a separate application to register the local order before any action can be taken," he said. He added that the feasibility of enforcement depended on the country's legal requirements and whether Malaysia had existing mutual legal assistance (MLA) arrangements with the jurisdiction involved. Salim said that although AMLA gave enforcement agencies and the public prosecutor broad powers, they must still convince the court that the assets were tied to unlawful activities. "The standard is based on the balance of probabilities. There must be cogent evidence, and it must be proven to be credible enough to satisfy the court on the need for a forfeiture order against the assets of an individual." He added that any attempt to seize assets — whether local or foreign — must also comply with Article 13 of the Federal Constitution, which prohibits individuals from being deprived of their property except in accordance with the law. Earlier, it was reported that MACC was now expanding its investigation to five additional countries as it tracked down high-value assets linked to Daim, a former finance minister.
The Star
4 days ago
- Business
- The Star
UK authorities join forfeiture bid on Daim's assets
PUTRAJAYA: Steps to forfeit assets belonging to the late finance minister Tun Daim Zainuddin, his family and proxies in the United Kingdom have begun, says the Malaysian Anti-Corruption Commission (MACC). Chief commissioner Tan Sri Azam Baki said the agency had also filed applications for the forfeiture of Ilham Tower yesterday. 'On June 5, we have filed for a restraining order on assets in UK worth RM700mil. We have informed the authorities in the UK and yesterday they informed us they have filed the same to their courts. 'This is a new development where the UK authorities agree with our request in Malaysia and the process will be continued at their courts,' he said this at a press conference here yesterday. 'On the defendant's side they have filed for an intervention and the courts have set July 9 for it. This is for case management and the restraining order application remains. Meanwhile on the forfeiture proceedings of Ilham Tower, he said, it would not be an easy process. 'There is a lot to be done and the documents involved are also quite thick,' he said. Media reports on June 3 stated that three luxury homes in London were among the seven properties and one bank account said to belong to Na'imah and her family, involving a total value of UK£132mil (RM758.2mil), which were frozen by the MACC. MACC investigations found that the movable and immovable assets were linked to alleged offences under Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001. Ilham Tower, owned by Daim's family, was first seized by MACC in December 2023 in its anti-money laundering probe involving a corporate transaction of RM2.3bil (US$500mil) in November 1997 involving public-listed Renong Bhd and United Engineers Malaysia Bhd (UEM), both linked to Umno. In an unrelated matter, Azam said that there was no decision made yet on any criminal charges on former prime minister Datuk Seri Ismail Sabri Yaakob. 'All investigation papers have been forwarded to the DPP and we have been told that they have agreed to file for the asset forfeiture on the monies seized, worth around RM170mil, in the coming two weeks. It is up to him to challenge our application. 'Regarding criminal charges, we are awaiting the DPP's decision. I do not know when they will be but I believe a decision will be made within a month,' he said. He added that on their end investigations have been deemed completed. When asked on the role of Ismail Sabri's former son-in-law Datuk Jovian Mandagie in the investigation, he said that he is a witness. On March 3, Azam had disclosed that Ismail Sabri is a suspect in an ongoing corruption and money laundering investigation following the discovery of approximately RM170mil in cash at a safe house during a raid. The cash, held in numerous currencies such as baht, riyal, pound sterling, won, euro, Swiss franc and yuan, was seized alongside 16kg of pure gold bars valued at nearly RM7mil. Additionally, 13 bank accounts containing over RM2mil have been frozen as part of the probe. The investigation focuses on funding sources and expenditures related to promotional and publicity activities during Ismail Sabri's tenure.
