How much money was frozen or seized by SC suspected of illegal activities?

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Securities Commission Froze and Seized RM100 Million in Suspected Unlawful Proceeds

In 2023, the Securities Commission Malaysia (SC) took decisive action under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA) to freeze and seize assets valued at RM100 million. These assets, comprising both cash and shares, are under suspicion of being derived from illicit activities.
Assets Frozen and Seized Under AMLATFPUAA

The SC's enforcement efforts in 2023 included the freezing and seizure of RM100 million in cash and shares. This action was specifically taken under the provisions of the AMLATFPUAA, targeting funds suspected to be proceeds from unlawful activities.
Focus on Enforcement Priorities

The SC's investigations and enforcement actions in 2023 were heavily concentrated on key areas. Disclosure breaches, securities fraud, and unlicensed activities represented 41 per cent of the 76 breaches of securities law reviewed during the year. These priorities also constituted over 50 per cent of new investigations commenced.
Digital Forensics Unit's Role

Supporting these enforcement actions, the SC's in-house Digital Forensics (DF) unit played a crucial role in evidence preservation. In 2023, this unit secured evidence from 351 digital sources, encompassing both physical devices like computers and mobile phones, as well as online accounts such as emails and cloud storage.

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How much money was frozen or seized by SC suspected of illegal activities?

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