PETALING JAYA: Police have seized RM51.2 million worth of luxury cars, number plates, watches and other items in a crackdown on a cryptocurrency syndicate.
Inspector-General of Police Razarudin Husain said 10 locals have been detained and will be remanded for up to seven days for investigation under Section 4 of the Anti-Money Laundering, Anti-Terrorism Financing, and Proceeds of Unlawful Activities Act 2001.Razarudin said investigations revealed that the syndicate had been operating since 2017, conducting scams overseas before channelling the funds to Malaysia .
“Money from the scams and illegal activities that took place in foreign countries was transferred to Malaysia through unregistered money changers and cryptocurrency transactions,” he said at a press conference in Kuala Lumpur today. SPONSORED CONTENT Electrifying windows of opportunity in Sabah - The right policies, collaborations, and strategies can turn emerging opportunities into victories for all parties in Sabah.
The seized items included 129 vehicle grants with exclusive registration numbers valued at RM18 million, 85 luxury watches and bags worth RM10 million, 18 luxury vehicles worth RM8 million, cash amounting to RM503,000, and 203 motorcycles worth a total of RM406,000.Razarudin said several more syndicates were under the police’s radar, with investigations underway.“We are also conducting investigations on fake accounts and online betting.
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