HOW SERIOUS IS BNM IN TACKLING THE ILLICIT CAPITAL FLIGHT. quote Bank Negara Malaysia (BNM) proudly and diligently announced in a June 30 media statement that Dewan Negara has passed the Anti-Money Laundering and Anti-Terrorism (Amendment) Bill (AMLATFA). What’s with the excitement, BNM? When the bill is gazetted into law, is BNM set to recover Malaysia’s illicit capital flight which has surpassed RM1.2 trillion amidst dark clouds? Is the central bank implying that it had failed to keep in check the country’s illicit capital flight effectively because of lack of enforcement power and law to deal with money laundering operatives? The majority of Malaysians are not really excited because Malaysia has many laws and law enforcement agencies but all the rakyat has been seeing is selective prosecution. The law and law enforcement only apply to the “ikan bilis” (anchovies) but the sharks continue to reap unabated. Can BNM please explain to Malaysians how the amended law can better serve the interest of rakyat dan negara (people and country)? How BNM, with the amended law and new found resolve, can be more effective in checking money laundering and illicit capital flight? How could RM1.2 trillion, in the first place, leave Malaysia without any action from the central bank? After 57 years of independence, BNM is now only given the law and power to fight money laundering and illicit capital flight activities? Please don’t insult the intelligence of Malaysians! unquote - See more at: theantdaily/Outspoken/Of-money-laundering-and-lack-of-enforcement-zeal/#sthash.aCGubull.dpuf
Posted on: Mon, 14 Jul 2014 14:09:26 +0000
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