Inspector-General of Police Tan Sri Abdul Hamid Bador said if it is true the 65-year-old wanted suspect is here and doing business in the country, police will track him down and arrest him.
"The man is a fugitive and known to be in the country from 2019 up to last year on business. But after a police report was lodged against him over a RM6 million fraud, he disappeared.
"So far, checks with the Immigration Department showed that the man left the country for Hong Kong on March 18 last year. We have not been able to trace his location since.
"If it is true he is continuing his activities in Malaysia, we will arrest him," he told Harian Metro, today.
Abdul Hamid said police are also in the process of listing the man's name on the International Police (Interpol) wanted list through a red notice.
Earlier, the Straits Times in Singapore reported that Wan was believed to be hiding and continuing his criminal activities in Malaysia.
Better known as 'Broken Tooth', he has long been on the police wanted list over his alleged involvement in gangsterism and a fraud case involving RM6 million since October last year.
Wan previously served 14 years in prison in Macau, after being convicted of illegal money lending, money laundering and leading a criminal group, before being released in 2012.
Authorities in the United States have accused Wan of leading a gang known as 14K and alleged that he is involved in drug trafficking, illegal gambling, extortion and human trafficking.