Wed, 12 Feb 2025
Headlines:
Interpol-wanted gaming operator’s RM371mil laundering scheme via Labuan foiled
Published on: Tuesday, August 13, 2024
Published on: Tue, Aug 13, 2024
By: Malay Mail
Text Size:
Text:
Interpol-wanted gaming operator’s RM371mil laundering scheme via Labuan foiled
Bukit Aman's Anti-Money Laundering division chief Datuk Muhammad Hasbullah Ali said the suspect was a wanted person in his country of origin listed under Interpol’s Red Notice. (Malay Mail pic)
Kuala Lumpur: An illegal online gaming operator’s attempt to launder illicit gambling revenues from overseas worth hundreds of millions here saw his plan foiled after Bukit Aman's Anti-Money Laundering (Amla) division caught wind of his activities.

Division head Datuk Muhammad Hasbullah Ali said the suspect had attempted to obfuscate his criminal activities from local authorities by manipulating the deposits of illicit monies through offshore entities service provided by a local investment bank in Labuan.

Advertisement
He said the bank was a licensed financial institution under the Labuan Offshore Financial Services Authority.

“The suspect, a non-Malaysian, possessed dual citizenships and had obtained commissions from bets placed by online gambling players totaling more than 10,000 people.

SPONSORED CONTENT
When it comes to skincare, the first thought on our minds would be beauty products such as serums, creams, and masks. However, beauty experts and even researchers have stated that drinking more water can be just as crucial for your skin's health.
“The gambling revenue is estimated to be around RM14.05 billion, of which RM371 million was transferred into Malaysia.

“Of the RM371 million, RM281 million was used for the purchase of stock units,” he told a press conference here.

Advertisement
Following investigations, Muhammed Hasbullah said several bank accounts belonging to the suspect including an escrow account (RM18.55 million) and Central Depository System account (RM281 million) were frozen.

As for the suspect, further investigation also revealed he was a wanted person in his country of origin on Interpol’s Red Notice.

Advertisement
“We would like to remind all offshore banks to improve their due diligence process on anyone seeking to open an account.

“This is crucial to ensure said financial institutions are not used as tools to commit money laundering activities,” he said.
* Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss.

* Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available.
Advertisement
Share this story
Advertisement
Advertisement
Advertisement
Follow Us  
Follow us              
Daily Express TV  
© Copyright 2025 Sabah Publishing House Sdn. Bhd. (Co. No. 35782-P)
close
Try 1 month for RM 18.00
Already a subscriber? Login here
Try 1 month for RM 18.00
open
Try 1 month for RM 18.00
Already a subscriber? Login here