BNM, MACC and IRB to allow exchange of information in fight to combat financial crimes

PETALING JAYA: Bank Negara Malaysia (BNM), Malaysian Anti-Corruption Commission (MACC) and Inland Revenue Board (IRB) have agreed to allow exchange of information between the agencies in a bid to combat financial crimes, corruption and tax evasion.
In a joint statement, the agencies said the tri-partite effort would strengthen the country's financial system, increase national revenue and build a country that is free from corruption and abuse of power.

"All three agencies are strongly committed to ensuring financial institutions are not used as a conduit to channel proceeds derived from financial crimes," it noted following a meeting between the heads of the respective agencies, today.
BNM's governor Datuk Muhammad Ibrahim said the collaboration of the three agencies will restrain the channelling of illegal proceeds and illegal transactions through the financial system, which is key in maintaining the integrity and public confidence in the Malaysian financial system.
"The meet was mooted to reinforce and showcase initiatives and intention by all three agencies in tackling bribery and corruption besides promoting public awareness in financial crimes," MACC chief commissioner Datuk Dzulkifli Ahmad said.
Meanwhile, IRB CEO Datuk Sabin Samitah said the strategic alliance is a necessary step towards reducing tax leakages that result from financial crimes.
"We firmly believe the synergy between our three agencies will bring forth significant benefits for the betterment of our beloved nation," he added.