KUALA LUMPUR: The Malaysian Anti-Corruption Commission has frozen 41 bank accounts worth an estimated RM70 million following a raid on companies suspected of tyre smuggling and document falsification.
These accounts comprise 16 company accounts and 25 individual banking accounts.
The commission also seized four immovable assets valued at approximately RM13 million during the operation.
The raid was conducted by the MACC’s Special Operations Division together with the Royal Malaysian Customs Department, the Inland Revenue Board, and Bank Negara Malaysia.
This multi-agency task force operation, codenamed “Op Grip”, targeted companies involved in illegal tyre smuggling activities.
Two companies have so far been identified as part of the smuggling syndicate.
One method used by the syndicate involved purchases from unauthorised traders and sticker fraud.
Initial investigations revealed the smuggled tyres were new but had various issues including sticker fraud and barcode tampering.
No arrests have been made yet as investigations are still ongoing.
MACC Deputy Chief Commissioner (Prevention) Datuk Azmi Kamaruzaman said the commission has opened a governance investigation paper related to the case.
The Governance Investigation Division will examine documents related to the procurement of these tyres.
Investigators found the tyres were not registered and contained elements of smuggling or unauthorized import.
These illegal imports could pose safety risks to consumers according to authorities.
The investigation is being conducted under Section 18 of the MACC Act 2009.
Authorities are also applying Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. – Bernama