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Enforcement Action Against Illegal Money Services Business Operators in Johor Bahru

Release Date: 25 Apr 2018

On 24 April 2018, Bank Negara Malaysia (BNM) raided four premises owned by Famirah Sukses Wisata (JM06933714-V), suspected for carrying out illegal retail remittance business activities without license granted under section 7(1) of Money Services Business Act 2011 (MSBA), which is an offence under section 4(1) of MSBA. Relevant documents and cash amounting to RM139,922.89 were seized for the purpose of the investigation. The raids were conducted in various places in Johor, including:

  1. Kota Tinggi Pandan, Johor Bahru
  2. Bestari Bestmart, Skudai
  3. TJ Mart, Senai
  4. Taman Air Biru, Pasir Gudang

In the same raiding operations, eleven illegal immigrants who were involved in manning the premises were detained in collaboration with the Immigration Department of Malaysia for breaching the Immigration Act 1959/63 (Act 155).

This is part of the continuous enforcement actions undertaken by BNM to protect members of the public against any financial loss when dealing with informal channels. Members of the public are advised not to conduct any money changing or remittance transactions with illegal money services business operators and their agents. Any person who conducts transactions with an illegal money services business operator does so at his own risk, and appropriate legal action can be taken against him by the relevant authorities. Members of the public should conduct their transactions only with licensed money services business operators which are listed on BNM's website (www.bnm.gov.my).

Any person or company who commits an offence under section 4(1) of the MSBA shall, on conviction, be liable to a fine not exceeding RM5 million or imprisonment for a term not exceeding ten years or to both.

© Bank Negara Malaysia, 2018. All rights reserved.