KUALA LUMPUR: The National Anti-Financial Crime Centre (NAFCC) bill was tabled in the Dewan Rakyat today.
It was tabled for first reading by Minister in the Prime Minister’s Department Datuk Liew Vui Keong.
The bill, if passed, will see the centre organising integrated operations related to financial crimes when an investigation involves two or more enforcement agencies.
It also enables NAFCC to establish, administer, maintain and manage a centralised data system which contains relevant information that it receives or gathers.
The information and analysed data may be used for the planning and coordination of an integrated operation and prevention of financial crimes.
The NAFCCC may request or receive any relevant information and reports from any person, government entity or enforcement agency, of which the latter is permitted to provide such data to the centre necessary for the purpose of an integrated operation or financial crime prevention.
The bill among others covers the establishment of the centre and its functions, as well as the advisory board and executive committee.
Part VII of the bill, among others, contains provisions covering prosecution against perpetrators of financial crimes, obligation of secrecy among the centre’s advisory board and executive committee members, protection against suits and legal proceedings for officers and persons who lawfully act in compliance with the instruction or order of the NAFCC’s director-general or officer.
It also provides power for the centre’s director-general, with consultation of the executive committee, to issue guidelines on any matter relating to its functions.
Liew, who is minister in charge of law, said NAFCC would look into all financial crimes, big or small.
He said the centre would also look into money laundering crimes, but would not have prosecution powers.
“The centre will act as an integrated agency to ensure coordination of all enforcement bodies such as the police, the Malaysian Anti-Corruption Commission, Customs Department and Bank Negara Malaysia.
“The centre is not a new prosecuting agency, nor will it erode the powers of existing enforcement bodies,” he said, adding that Malaysia’s financial crimes had yet to reach the “red zone” and was still under control.