How were RM42 million of SRC International funds allegedly channelled?

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Alleged Channeling of RM42 Million SRC International Funds

Bank Negara Malaysia (BNM) investigated the alleged channeling of RM42 million of SRC International funds in 2015, focusing on transactions involving specific companies and Datuk Seri Najib Razak's bank accounts. BNM investigators executed raids and issued notices to financial institutions to retrieve banking documents pertinent to these accounts.
Investigation into Intermediary Companies

In 2015, BNM initiated probes into two major local banks concerning accounts linked to Najib Razak and companies associated with 1Malaysia Development Berhad (1MDB). As part of this investigation, BNM officers raided AmBank's Jalan Raja Chulan branch to obtain details on accounts held by SRC International Sdn Bhd and Najib. Concurrently, BNM requested banking information from Affin Bank pertaining to Ihsan Perdana Sdn Bhd, a company identified as being linked to SRC International.
Role of Ihsan Perdana Sdn Bhd

Ihsan Perdana is alleged to be one of two companies through which RM42 million of SRC International funds purportedly passed before reaching Najib's private bank accounts at AmBank. BNM's Financial Intelligence and Enforcement Unit analyst, Mohammad Nizam Yahya, served a notice under the Anti-Money Laundering, Terrorism Financing and Proceeds of Unlawful Activities Act (Amla) to Affin Bank on July 6, 2015, to secure banking documents for Ihsan Perdana's accounts. Affin Bank Berhad's chief legal officer and company secretary, Nimma Safira Khalid, subsequently provided documents including account opening forms, specimen signature forms, and statements for three of Ihsan Perdana's bank accounts.
Retrieval of Banking Documents

The process of retrieving these documents involved BNM officers, including Mohammad Nizam, spending an extended period at Affin Bank's headquarters on July 6, 2015. They were at the bank from approximately 10 am until around 9 pm, with the acknowledgment of receiving the banking details occurring at 7:55 pm. Representatives from a special task force later made copies of the documents that were obtained from Affin Bank, indicating the collaborative nature of the investigation involving multiple agencies.

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How were RM42 million of SRC International funds allegedly channelled?

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