pic by BERNAMA

THE National Anti-Financial Crime Centre (NAFCC) Bill 2019 was tabled for its first reading in the Dewan Rakyat yesterday, paving the way for the creation of a central agency to combat financial crimes.

The centre will act as a principal body that will coordinate the efforts of 12 enforcement agencies in tackling crimes linked to illegal outflows of money from the country.

These agencies include the police, the Malaysian Anti-Corruption Commission and Bank Negara Malaysia.

Minister in the Prime Minister’s (PM) Department (Law) Datuk Liew Vui Keong (picture) said the NAFCC will allow for better handling of inter-agency criminal cases such as cigarette smuggling, which would also have elements of bribery, tax evasion and dubious transactions.

“The centre is not a new prosecuting agency, nor will it erode the powers of existing enforcement bodies,” he told reporters at the Parliament lobby after tabling the bill.

Financial crimes in the country are still under control and have yet to reach the “red zone”, Liew added.

The second reading of the bill is expected in the current session of Parliament.

The NAFCC will coordinate integrated operations relating to financial crime among government entities and enforcement agencies, and the management of a centralised data system.