KUALA LUMPUR: The manager of Ambank’s Jalan Raja Chulan branch, R. Uma Devi told the High Court here today that consent from Bank Negara Malaysia (BNM) is needed to transfer foreign funds exceeding RM50,000 into a bank in this country.
Uma Devi, 40, who is the 21st prosecution witness, said that foreign funds exceeding RM50,000 would be checked by the money laundering unit at each branch of the bank.
She was testifying on the 11th day of former prime minister Datuk Seri Najib Abdul Razak’s trial, who is facing three counts of Criminal Breach of Trust (CBT), one count of abusing his powers and three counts of money laundering involving SRC International funds totalling RM42 million.
During cross-examination by Najib’s lead counsel Tan Sri Muhammad Shafee Abdullah, the witness said she could not remember whether an alarm was raised when large amounts of money were transferred into Najib’s accounts.
She added that the bank did not conduct any inquiry based on the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 into any of the transactions involving accounts related to Najib.
Muhammad Shafee: How much funds would be needed to trigger inquiry?
Uma Devi: Usually more than RM50,000, banks would consider.
Shafee: The purpose of the inquiry is to find out the sources?
Uma Devi replied that the purpose of the inquiry is to find out “the purpose and the source of funds.”
When asked about BNM’s controls, she said there were procedures surrounding the transfer of foreign currencies into a Malaysian resident’s account.
“I have no idea (about the procedures), but anything that is RM50,000 and above, it would raise the alarm as to why you are receiving it or why payment is made overseas,“ she said.
Shafee: Looking at all documents, you came across nothing untoward in relation to this case and matters you testified on various accounts related to Najib? You have not found documents that raise the alarm pertaining to sources of funds or suspected in any way?
Uma Devi replied: There was none in the records.
When asked whether she knew more about the alleged fund transfers from Saudi Arabia’s Finance Ministry and Prince Faisal bin Turki into Najib’s accounts, the witness said that only remittance officers of the bank would have such knowledge.
Muhammad Shafee: Who in Bank Negara would give the green light for such transactions?
Uma Devi: Usually the customer would have to get consent from the central bank. It is the customer’s duty to get the consent from BNM. There must be a consent letter, otherwise the banks would not proceed.
Meanwhile, when re-examined by ad hoc prosecutor Datuk V. Sithambaram, she said Nik Faisal Ariff Kamil cannot take out money from Najib’s accounts.
(Nik Faisal was appointed as an authorised signatory for several of Najib’s Ambank accounts.)
Sithambaram: Mandate was given to Nik Faisal. He can take out money from Najib’s account?
The witness said “no.”
The hearing before High Court judge Mohd Nazlan Mohd Ghazali continues. — Bernama
