24 July, 2009

BNM Raid Asia Ceramic Marketing Sdn Bhd

BNM raids Asia Ceramic Marketing premises

KUALA LUMPUR (July 23, 2009): Bank Negara Malaysia (BNM) has raided Asia Ceramic Marketing Sdn Bhd's premises here following complaints received from members of the public.

The central bank said in a statement today that it was investigating the company under Section 25(1) Banking and Financial Institutions Act 1989 (Bafia) and Section 4 (1) of Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (Amlatfa).

Section 25(1) of Bafia 1989 prohibits any person from receiving, taking, or accepting deposits without a valid licence while Section 4(1) of Amlatfa 2001 prohibits any person from engaging in, or attempting to engage in, or abetting the commission of money laundering activities.
"Relevant assets and documents of the company were seized for the purpose of investigation," BNM said.

It also reminded the public to be cautious of deposit taking and investment schemes offered through various channels such as the internet, phone calls or seminars conducted by individuals or companies not licensed or approved by the relevant authorities.

The public may refer to the list of licensed institutions authorised to accept deposits which is available on BNM's website at www.bnm.gov.my .

-- Bernama

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