Wednesday, May 29, 2013

Money Laundering From Malaysia

Here we go again, Malaysia bashing has started and who else but The Malaysian Insider to publish "Malaysia linked to world’s largest money laundering scheme, NYT reports"

The original NYT report is here and the single line Malaysian connection,
The exchangers, the indictment said, “tended to be unlicensed money-transmitting businesses without significant government oversight or regulation, concentrated in Malaysia, Russia, Nigeria and Vietnam.”

First thought that came to mind - Ah Longs.

I am sure the government and/or Bank Negara will respond.

The Malaysian Insider may or may not have but readers please DO read the comments of the NYT report for an alternative view.

1 comment:

Snuze said...

Best way to bolster their argument about corruption here. Apart from Ah Long, we also have illegal workers remitting funds back home (it's estimated we have about 1.2 million illegal workers here, if each of them send home RM 200 per month, I think the maths can work out)and foreigners laundering their drug money (those caught smuggling drugs are really just the tip of the iceberg).

But yeah, a single line goes a loooooong way for these people.