Ringgit Weakened in Feb
Malaysian authorities dismantled a Ponzi scheme called MBI Investment, based in a neighboring country, through a cross-border operation on March 20, named Operation Northern Star.
The operation, led by the Anti-Money Laundering Investigation Team and prompted by an Interpol red notice, resulted in the arrest of eight local suspects, including four with the title “Datuk” (two entrepreneurs and two lawyers), aged 44 to 62.
Assets worth RM3.17 billion were seized and frozen, including 638 bank and share accounts (RM1.16 billion), 35 properties (RM2 billion), 10 luxury vehicles, 13 luxury watches, cash, jewelry, electronics, handbags, and documents, all believed to be proceeds of the scam.
The suspects were remanded for one to seven days for further investigation, and the police vowed to pursue others involved in related money laundering activities while urging the public to stay cautious.
Investor trust in AI for financial decisions is low due to concerns about transparency and…
Malaysia's manufacturing sales increased 8.9% in May, led by strong growth in the electrical and…
Malaysia's government is reviewing e-invoicing after businesses expressed concerns about costs and implementation readiness.
Migrant CARE urges authorities to implement a witness cooperation channel to combat illegal cigarette trade…
Infomina secures a RM21.1 million JPJ contract, boosting recurring income visibility and strengthening its public…
Infomina secures a RM21.1 million JPJ contract, boosting recurring income visibility and strengthening its public…
This website uses cookies.