BNM raids 4 firms over illegal deposit taking, money laundering

Monday October 13, 2008 MYT 8:04:39 PM

KUALA LUMPUR: Bank Negara raided four companies in Kuala Lumpur, Selangor and Negeri Sembilan on Monday on suspicion of illegal deposit taking and money laundering activities.

The central bank said in a statement on Monday that it raided Buluhmas Enterprise Sdn Bhd, Jazmeen (M) Sdn Bhd, Noradz Travel & Services Sdn Bhd and Eastana Farm Industries Sdn Bhd.

It said the raids were carried out under Section 25(1) of the Banking and Financial Institutions Act 1989 and Section 4(1) of the Anti-Money Laundering and Anti-Terrorism Financing Act 2001.

“The raids were conducted at the premises of the companies in Kuala Lumpur, Selangor and Negeri Sembilan following complaints received from members of the public. Relevant assets and documents of the companies were seized for purpose of the investigation,” it added.

Bank Negara advised the public to be cautious of investment schemes promoted on the Internet, through phone calls or through seminars conducted by individuals or companies that are not licensed or authorised by the central bank to accept deposits or to conduct foreign currency dealings.

A list of all licensed institutions that accept deposits is available on Bank Negara Malaysia’s website at
www.bnm.gov.my.