Malaysia determine to fight money laundering
The Malaysian government will work with authorities in Switzerland, the US, Singapore and other jurisdictions to recover funds that were embezzled from the state treasury, said Malaysian Prime Minister Mahathir Mohamad.
Malaysian Prime Minister Mahathir Mohamad (Source: Xinhua/VNA)Kuala Lumpur (VNA) - The Malaysian government will work with authorities in Switzerland, the US, Singapore and other jurisdictions to recover funds that were embezzled from the state treasury, said Malaysian Prime Minister Mahathir Mohamad.
Speaking at a press conference in Kuala Lumpur on May 16, Mahathir revealed that the amount of money from Malaysia flowing to the US reached 4.5 billion USD.
The previous government did not acknowledge that this amount was sourced from the country’s state development fund 1MDB.
According to the Malaysian leader, more wrongdoing occurred at the fund than was publicly known.
Previously, on May 12, the Malaysian Immigration Department announced that former Malaysian Prime Minister Najib Razak and his wife Rosmah Mansor had been banned from leaving the country.
Immediately after the move, Najib Razak said on his Twitter that he had been informed about this, adding that he would respect the ban and stay in Malaysia with his family.
Najib Razak set up the 1MDB fund in 2009 to promote economic development through global partnerships and foreign direct investment.
However, the fund was the centre of a 3.7-billion-USD-money laundering scandal which led to a series of financial market investigations in a number of countries including the US, Switzerland, Singapore, Malaysia and China.-VNA
You should also see
PM urges village elders, citizens to help preserve cultural heritage
Prime Minister Pham Minh Chinh has asked village elders and chiefs, skilled artisans and reputable citizens to make greater efforts to preserve and promote tangible and intangible cultural heritage, which is the quintessence and core value of the nation.
See more
World
Thailand gives financial support to Laos for road maintenance
The Thai cabinet has approved 1.8 billion THB (about 48.8 million USD) in financial assistance for the Lao Government to maintain and improve Highway R12, shortening the travel time from Thailand’s Nakhon Phanom province, through Laos, to the Vietnamese border in central Quang Binh province.
World
Indonesia develops sustainable tourism
Indonesia has been working to realise its goal of building a quality, sustainable and environmentally friendly tourism industry.
World
Vietnam to have many opportunities from digitalisation, green transformation: IMF
The International Monetary Fund (IMF) has forecasted that Vietnam will have many opportunities from digitalisation and green transformation, according to IMF Asia and Pacific Department Director Krishna Srinivasan.
World
Thailand’s EV sales forecast to miss target
Electric vehicle (EV) sales in Thailand may fail to reach the estimate of 130,000 units this year as prices are likely to keep changing, according to Hyundai Mobility Thailand.
World
Thailand, EU hope to sign FTA in mid-2025
Before the Songkran holiday, senior officials from Thailand and the European Union (EU) met in Bangkok to discuss ways to promote their relationship, including the framework of the Free Trade Agreement (FTA), green transformation, and Schengen visa waiver, Thai media has reported.
