MACC Strengthens Asset Disposal Mechanism Via Public-private Partnership

PUTRAJAYA, June 30 (Bernama) -- The Malaysian Anti-Corruption Commission (MACC) continues to strengthen its efforts to combat corruption by focusing on the forfeiture and disposal of assets derived from unlawful activities, ensuring the process is carried out with integrity and in the public interest.

MACC Anti-Money Laundering (AML) Division director Norhaizam Muhammad said there was a need to establish a comprehensive cooperation mechanism to ensure that actions from enforcement bodies and the private sector were carried out in a coordinated and effective manner.

“We want to create an asset management ecosystem that is not only efficient but also trusted by the community and the market.

“This was proven through the successful disposal of cryptocurrency, where the MACC, in partnership with CyberSecurity Malaysia, became the first agency in Malaysia to dispose of cryptocurrency for the Malaysian government,” he said in a statement issued in conjunction with the Public-Private Partnership Programme: Asset Management Sector, held at the MACC headquarters here today.

Norhaizam expressed confidence that the experience, expertise and openness of all parties involved would contribute to constructive discussions and enhance the process and handling of asset disposal.

Commenting on the programme, he said it was held to foster closer collaboration, exchange views, share experiences and propose practical measures to facilitate the disposal of confiscated assets, particularly those seized by the MACC.

Norhaizam said it was also in line with the MACC AML Division’s Strategic Plan to collaborate with the public and private sectors, as well as academic institutions, due to the sensitive and high-risk nature of asset management.

--BERNAMA