MACC records RM1.27b in asset freezes from 2022 to September, says deputy minister

KUALA LUMPUR, Oct 13 - The Malaysian Anti-Corruption Commission (MACC) froze assets worth RM1.27 billion from 2022 to September, targeting bank accounts, jewellery, real estate and other valuable possessions. Deputy Minister M. Kulasegaran disclosed that 1,336 asset-freezing orders were issued under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 in 2025, while 1,006 were issued between January 1st and September 30th this year.

A total of 481 freezing orders were revoked without charges in 2025, and 781 were revoked in the first nine months of the current year, he added. Kulasegaran clarified that revoking, canceling or altering an asset-freezing order does not imply the absence of an offence or a weak investigation. The process of freezing assets is part of the investigative procedure and a preventive measure to inhibit assets linked to an alleged crime from being transferred, disposed of or traded.

During the Special Chamber sitting in the Dewan Rakyat, Kulasegaran responded to questions regarding the MACC's authority to freeze assets under Section 44 of Act 613 and regulatory and investigative matters. He emphasized that MACC and other enforcement agencies conduct investigations based on established criteria, taking preliminary actions based on reports, initial investigations and suspicious transactions such as large sums of money moving in and out of accounts.

Kulasegaran also addressed the need for tighter governance, including court approval before freezing accounts or seizing assets belonging to listed companies, to safeguard minority shareholders' interests.