PUTRAJAYA: Malaysia has reaffirmed its commitment to strengthening international cooperation against corruption through technical assistance and improved communication channels.
Datuk Norhaizam Muhammad, director of MACC’s Anti-Money Laundering Division, emphasised the importance of sharing best practices and ensuring recovered assets benefit all parties involved.
He stated this during a panel discussion on Technical Assistance in International Cooperation and Asset Recovery at the recent UNCAC conference in Vienna.
The conference focused on implementing the next phase of the United Nations Convention against Corruption, particularly regarding international cooperation and asset recovery mechanisms.
Discussions covered various topics including beneficial ownership information, innovative enforcement approaches, and non-criminal judicial assistance.
Other key issues addressed included corruption involving organised crime groups and preventing corruption in immigration and investment policies.
Malaysia confirmed its participation in three crucial UNCAC forums aimed at enhancing international cooperation and asset recovery efforts.
MACC shared Malaysia’s experience with the 1MDB case, which served as a catalyst for reforming cross-border corruption strategies.
A special task force involving multiple agencies coordinated investigations, legal proceedings, and international cooperation for the case.
The two-tier approach combining informal and formal channels through Mutual Legal Assistance significantly accelerated the recovery process.
This approach utilised financial intelligence, beneficial ownership analysis, and support from international networks including INTERPOL and the Egmont Group.
As of May 2025, MACC has successfully recovered RM29.79 billion, representing 70% of the total misappropriated 1MDB funds.
All recovered assets have been returned to the Malaysian government through these comprehensive international cooperation efforts. – Bernama
