Illegal Money Transfer Syndicate Busted Rm3 6mil Seized

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A joint operation involving the immigration department, Bank Negara Malaysia, and CyberSecurity Malaysia busted a syndicate that offered unlicensed money transfer services in Klang and Brickfields. (Facebook pic)
PETALING JAYA: Around RM3.6 million was seized and 10 foreigners arrested in an operation targeting an illegal money transfer syndicate in Klang and Brickfields.

Immigration director-general Zakaria Shaaban said the syndicate offered unlicensed money transfer services, primarily targeting Indonesian and Indian customers.
The joint operation, conducted with Bank Negara Malaysia (BNM) and CyberSecurity Malaysia, also seized foreign currencies, namely €1,400 and 10,000 yuan, as well as gold jewellery, believed to be linked to illicit financial transactions.
In a statement, Zakaria said the syndicate is also believed to have used gold jewellery as a means to smuggle illicit funds out of the country, bypassing official banking and financial channels.
He added that the syndicate, which had been active for about a year, processed between RM15,000 and RM60,000 daily, with transactions surging up to RM110,000 during festive seasons.
“They operated under the guise of grocery stores and eateries to evade detection by authorities,” he said.
“The money was then transferred abroad, primarily to Indonesia and India,” he said.
Initial checks revealed that three Indian nationals had misused their passes, two others had overstayed, while three more Indian nationals and two Indonesian women had no valid travel documents or permits to remain in Malaysia.
The individuals, aged between 21 and 57, have been taken to the Semenyih immigration depot for further action.
The case is being investigated under the Immigration Act 1959/63, as well as laws related to money services business and anti-money laundering regulations. - FMT

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