Malaysian senate passes Anti-Money Laundering and Anti-Terrorism Financing Bill 2013

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The Dewan Negara, the upper house of the Malaysian Parliament, passed the Anti-Money Laundering and Anti-Terrorism Financing (Amendment) Bill 2013. The bill provides, among others, more power to the law enforcers to freeze and seal assets of those involved in money laundering. The bill also allows more effective enforcement and prevention through punishment and heavier penalties.

Read the story in The Borneo Post.

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