KUALA LUMPUR: Prime Minister Tun Dr Mahathir Mohamad (pix) today launched the Malaysian Financial Intelligence Network (MyFINet), a public-private partnership (PPP) initiative aimed at countering financial crimes and terrorism financing.
Delivering a special address at the 11th International Conference on Financial Crime and Terrorism Financing 2019 conference this afternoon, he said economic reforms cannot usher in Malaysia Baharu or New Malaysia unless they are accompanied by institutional and governance reforms.
“This PPP is a collaboration and cooperative initiative between Bank Negara Malaysia, Securities Commission, law enforcement agencies and financial institutions to better combat financial crimes.
“ PPPs promote synergy in anti-money laundering or countering financing of terrorism measures. This is achieved through effective, timely and seamless sharing of financial intelligence from financial institutions for the purpose of crime prevention and law enforcement,“ he said.
source https://www.thesundaily.my/business/financial-intelligence-network-launched-to-combat-financial-crimes-ED1577336
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