MACC Freezes RM70mil in Bank Accounts in Major Tyre Smuggling Crackdown
KUALA LUMPUR, Sept 30 — The Malaysian Anti-Corruption Commission (MACC) has frozen personal and company bank accounts valued at RM70 million following Ops Grip, a large-scale crackdown on a tyre smuggling syndicate.
The operation, carried out on Sept 29, targeted 23 key locations, including warehouses and storage containers in the Klang Valley, Penang, and Johor. Authorities seized 17,672 tyres for authenticity checks with international brand owners Michelin and Goodyear, alongside the Domestic Trade and Cost of Living Ministry.
The MACC said investigations focus on potential offences under Section 18 of the MACC Act 2009 and Section 4(1) of the Anti-Money Laundering Act. The syndicate is suspected of causing tax revenue losses of RM350 million since 2020.
Ops Grip was led by the MACC’s Special Operations Division, working with the Inland Revenue Board, Bank Negara Malaysia, and Royal Malaysian Customs.
Read More News on Latest Malaysia
Read More News on Business News Malaysia
Read More News on SG Business News
Read More News on World Future TV
Fomca urges government transparency on Budget 2026 cuts, warning healthcare reductions could harm patients, staff,…
PETRONAS and ENEOS renew LNG partnership, securing 10% stake in MLNG Tiga to strengthen energy…
UAE exits OPEC+, weakening spare capacity control and signaling shift toward capacity-driven competition, raising volatility…
Dunlop launches EV-ready tyres under Toyotsu Binter, strengthening Malaysian presence with new products, dealer expansion,…
The FOMC maintained that US economic activity continued to expand at a “solid” pace. Growth…
Finance Ministry raises RON97 and RON95 prices, keeps diesel unchanged, urges prudent fuel use amid…
This website uses cookies.