Bank Negara Malaysia on 17 August 2017 raided five premises located in Perak, Pahang and Negeri Sembilan. These premises were raided for suspected offences under the Money Services Business Act 2011 (MSBA) and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFA).
The raids were conducted on DJ Travel & Tour Sdn. Bhd. in Lumut and Sitiawan, Fathima Warisan Enterprise in Giant Supermarket Senawang, and Habeeb Textiles in Kuantan and Muadzam Shah where relevant documents, cash and foreign currencies were seized. In the same raiding operations, four illegal immigrants who were involved in manning the premises were detained by the Immigration Department of Malaysia.
Any person or company who conducts money services business activities, such as money changing and remittance activities without a license is committing an offence under section 4(1) of the MSBA and shall be liable to a fine not exceeding RM5 million or imprisonment not exceeding 10 years or both. For an offence under section 4(1) of the AMLATFA, individuals convicted shall be liable to imprisonment not exceeding 15 years and a fine of not less than five times the sum or value of the proceeds of an unlawful activity or instrumentalities at the time the offence was committed or RM5 million, whichever is higher.
Members of the public are advised not to conduct any money changing or remittance transactions with illegal money services business operators. Any person who conducts transactions with illegal money services business operator does so at the risk of financial loss from funds absconded by perpetrators or asset seized by authorities. Enforcement action may also be taken against them by the relevant authorities.
Members of the public are advised to deal only with licensed money services business operators which can be identified by the official logo of Malaysian Association of Money Services Business (MAMSB) displayed at their counters (please refer attachment for the MAMSB logo). The list of licensed money services business operators is also available in Bank Negara Malaysia's website (www.bnm.gov.my).
This raiding operation is one of the continuous measures by Bank Negara Malaysia to eradicate illegal money changing and remittance activities in our country.