Malaysia targets illegal money flows

Sunday, 02 Feb, 2012 0

Malaysia has installed scanners to detect bank notes at airports and border crossings to curb illegal money outflows.

AFPsaid the move comes after Washington-based watchdog group Global Financial Integrity reported that Malaysia lost $US338 billion between 2000 and 2009 to such outflows, ranking it fifth in the world.

Malaysia customs deputy director-general Zainul Abidin Taib told local media seven scanners were operating at Kuala Lumpur International Airport and more would be installed by the end of the year.

Prime Minister Najib Razak announced in December a special task force to check the illegal flight of funds.

Global Financial Integrity said Malaysia was fifth behind China, Mexico, Russia, and Saudi Arabia in illicit outflows.



 

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Ian Jarrett



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