KUALA LUMPUR – The National Anti-Financial Crime Centre (NFCC) and CyberSecurity Malaysia (CSM) have signed a memorandum of cooperation (MoC) to combat financial crimes with the power of knowledge, expertise and sharing of experience between both parties.
Discussions concerning the cooperation between the NFCC and CSM began last year with an agreement by CSM chief executive Amirudin Abdul Wahab and NFCC director-general Datuk Seri Mustafar Ali to shape an initiative towards supporting the agenda to combat these financial crimes with a focus on cybersecurity.
The memorandum signing ceremony was attended by Chief Secretary to the Government Tan Sri Mohd Zuki Ali, who highlighted that fraudulent crimes such as phishing and illegal investment schemes are on the rise, closely monitored by the police force that has detected 80,000 mule accounts used by syndicates in 2019 and 2020.
“Losses from these crimes are estimated to stand at RM100 million, where RM52 million of the losses is tied to online investments where victims are convinced to pump monies into cryptocurrencies and forex,” the statement read.
Zuki added that the cooperation between the NFCC and CSM forms part of the “whole of government” or “whole of nation” approach to combatting financial crimes.
“This is why unified cooperation involves various government entities, particularly in the use of big data, while still ensuring security and data protection.
“The chief secretary to the government stressed that as the head of the civil service, more cooperation like this is required and urged ministry leaders and agencies to take similar decisions and ensure prevention and enforcement can be conducted in a holistic and sustainable manner,” the statement added.
Also present for the signing ceremony today was NFCC’s board of advisors chairman Tan Sri Abu Kassim Mohammed and chairman-general Tan Sri Mohd Azumi Mohamed. – The Vibes, August 27, 2021
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