PETALING JAYA: The Cabinet has approved a policy paper to enable the National Anti-Financial Crime Prevention Centre to be the central agency to handle seized and forfeited assets.
Law minister Wan Junaidi Tuanku Jaafar said the centre would proceed with the process of drafting suitable amendments to the law, Bernama reported.
He said the decision follows Prime Minister Ismail Sabri Yaakob’s statement on May 19 to make NFCC the central agency to manage seized and forfeited assets.
The legal amendments will have provisions to empower the NFCC to manage seized and forfeited assets on behalf of the government.
Wan Junaidi said research would be carried out how centralised property management systems are handled in countries such as Australia, Britain, the United States and the Netherlands.
“Countries with a centralised property management system are able to manage property more effectively and efficiently, adding value and bringing success to the country.
“Most importantly, its implementation will benefit all parties in the criminal justice system,” he said.
Wan Junaidi said a one-stop centre to manage seized and forfeited assets is required in Malaysia.
Law enforcement agencies could then focus more on investigation and enforcement actions, he said. - FMT
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