BNM, MACC & financial sector must continue to cooperate to combat corruption, financial scams

BNM, MACC & financial sector must continue to cooperate to combat corruption, financial scams theSun theSundaily BankNegaraMalaysia BNM MACC MalaysianAntiCorruptionCommission cooperation finance

: Bank Negara Malaysia must continue to cooperate with the Malaysian Anti-Corruption Commission and the financial sector to coordinate efforts in combating corruption and financial scams.

“Financial institutions are always exposed to fraud and money laundering which make them a safe place or as a conduit to hide, deal and ‘clean’ the money from illegal activities. With the latest technological advancement becoming more sophisticated in line with the current information system, Azam said the modus operandi of corruption perpetrators continues to widen and is more complex.

He also opined that transactions, particularly those involving high-risk customers should be examined carefully in terms of the sources of funds obtained and where the funds are utilised.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

theSundaily /  🏆 25. in MY

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Azam: BNM, MACC, finance sector must cooperate to fight graft, scamsMACC chief says criminals are becoming more sophisticated in their methods.
Read more »

Mas Ermieyati denies defecting from Umno to escape MACC probe | The Malaysian InsightMasjid Tanah MP mulls legal action over Zahid’s ‘baseless’ claims.
Read more »

MACC nabs siblings for attempting to bribe police with RM25,000SHAH ALAM: Two siblings believed to be members of a liquor smuggling syndicate were arrested by the Malaysian Anti-Corruption Commission (MACC) to assist in the investigation of a case involving a bribe of about RM25,000 in cash to members of the police.
Read more »

Bank Negara, MACC and financial sector must continue to cooperate to combat corruption, financial scams, says MACC chiefKUALA LUMPUR, June 30 — Bank Negara Malaysia (BNM) must continue to cooperate with the Malaysian Anti-Corruption Commission (MACC) and the financial sector to coordinate efforts...
Read more »