PUTRAJAYA (Bernama): The Government has agreed to set up the National Financial Crime Centre (NFCC) in an effort to tackle money laundering activities. He said the Government viewed seriously the illegal outflow of cash from the country, estimated at billions of ringgit each year. "This issue needs to be addressed seriously and the government wants the initiative involving various agencies to be implemented immediately. Malaysian Anti-Corruption Commission chief commissioner of the Prevention of Corruption Commission Malaysia (MACC) Datuk Seri Mohd Shukri Abdull was also present. Meanwhile, Mohd Shukri said the MACC would propose the use of a new law on beneficial ownership to curb the problem of major contractors not implementing the projects themselves.

Source: The Star December 21, 2018 14:26 UTC