Malaysia to shackle terrorist funding activities, wipe out global money laundering
July 21st, 2010 - 6:11 pm ICT by ANIKuala Lumpur, July 21 (ANI): Malaysia would shackle terrorist funding activities and wipe out global money laundering abuses in the country, assured Attorney-General Tan Sri Abdul Gani Patail.
According to The Star, he said that the country is at par with other jurisdictions, with sufficient control over such illegal activities in terms of legislation.
Presently, there are 54 cases pending in court for violation of the Anti-Money Laundering and Anti-Terrorism Financing Act of 2001. Since the Act came into force, there has been a sharp increase in the number of cases with 11 convictions recorded.
“With these efforts, we hope to curb terrorist financing activities and eradicate all forms of money-laundering abuses of the global financial system, and provide for better control over such activities,” he said in a keynote address at the International Conference on Financial Crime and Terrorism Financing 2010 on July 20, 2010.
Gani said that there were also efforts to amend the Act to extend its scope of application and provide more power to the relevant authorities. (ANI)
- US, India natural allies against terror financing: US official - Jul 28, 2011
- US official congratulates India on financial action task force membership - Jul 03, 2010
- India faces money laundering, terror financing risks: IMF - Jan 26, 2011
- India becomes full-fledged member of 'Financial Action Task Force' - Jun 29, 2010
- Analysis and outcome of Toronto G-20 summit - Jul 01, 2010
- US welcomes India joining Financial Action Task Force - Jul 03, 2010
- Vatican bank sets up anti-money-laundering unit to end financial scandals - Dec 30, 2010
- US doubts Pakistan can prosecute Mumbai terror plotters - Sep 01, 2011
- India becomes member of Financial Action Task Force - Jul 27, 2010
- Bangladesh to firm up money laundering laws - Sep 08, 2010
- Financial sector to strengthen anti-money laundering systems - Jun 18, 2009
- India commissions study on black money - May 29, 2011
- India cautions against slowdown in IMF quota reforms - Apr 21, 2012
- India major target for money launderers, terrorists: US report - Mar 04, 2011
- Pope to issue new rules to counter financial crimes - Dec 30, 2010
Tags: attorney general, convictions, financial crime, gani, global financial system, global money, illegal activities, jurisdictions, keynote address, kuala lumpur, legislation, relevant authorities, scope, terrorism financing