Malaysian Police Arrest Ten Suspected Money Launderers, Seize Assets Worth Millions

In a major crackdown on money laundering, the Malaysian police have apprehended ten individuals suspected of using cryptocurrency for illicit transactions.

Arrest of the Suspects

• The arrestees consisted of eight men and two women, aged between 28 and 51.
• They were arrested following an investigation into unregistered currency exchanges and cryptocurrency platforms used to transfer funds from abroad.
• The Malaysian Police Chief, Tan Sri Razarudin Husain, announced the arrests on Monday.

Seized Assets worth over $11.5 Million

• Assets worth over $11.5 million have been seized.
• These included luxury vehicles worth over $3.9 million.
• Motorcycles, branded watches, handbags, and cash totaling $111,800.
• Approximately $10.8 million in bank accounts have been frozen.

“This is a clear example of money earned from illegal activities being used to acquire lavish possessions.”

• Tan Sri Razarudin Husain, Malaysian Police Chief

Suspects Detained and Investigation Ongoing

• The suspects have been detained under the Anti-Money Launderig, Anti-Terrorism Financing, and Proceeds of Unlawful Activities Act Section 4(1).
• The investigation is ongoing.
• Anyone with information about this case or suspicious transactions is encouraged to come forward.

Significant Blow against Money Laundering Activities in Malaysia

• This arrest marks a significant blow against money laundering activities in Malaysia.
• It demonstrates the country’s commitment to upholding its financial regulations.