KUALA LUMPUR: Malaysia has among the highest misappropriation of funds and money laundering cases by political leaders and big corporations in the world.
Prime Minister Datuk Seri Anwar Ibrahim said this was reported based on the Global Financial Integrity (GFI) report 2010, the Panama Pandora Papers in 2016 and the Pandora Papers in 2017.
Anwar said most of a large amount of money kept in offshore accounts was believed to be from illegal activities, which include several political leaders in the country.
"The issue affects the national interest as a whole and based on what was revealed in these reports, Malaysia is among the highest due to its economical status and small total population.
"Yes, several countries like China and Saudi Arabia were involved, however, Malaysia is among the top.
"This means most of the money that has been spent and taken out from Malaysia, which is mostly considered illegal, is high," he said during Minister's Question Time (MQT) in Dewan Rakyat, today.
Anwar said this in response to a supplementary question by Datuk Seri Tuan Ibrahim Tuan Man (Perikatan Nasional-Kubang Kerian) on the government's plan to examine offshore accounts to ensure funds transparency, including foreign political funds donated to Malaysian political parties.
He added that proper coordination and investigation are being done by related bodies, namely the National Anti-Financial Crime Centre (NFCC), police, Malaysian Anti-Corruption Commission (MACC), Central Bank (BNM) and the Inland Revenue Board (LHDN) on almost 3,000 Malaysian figures mentioned in the Pandora Papers.
"This does not exclude the funds that came from within or outside Malaysia. Those in the tax haven, run from paying the taxes and breaking the law, are being investigated and several actions have been taken.
"There are also those who have been summoned by these bodies to explain the sources of the hundreds of millions being stored in offshore bank accounts.
"I cannot elaborate much as it is still being investigated. However, I assure you that my instruction towards these bodies is clear and I am satisfied with the steps taken."
Meanwhile, in response to Datuk Seri Dr Noraini Ahmad (Barisan Nasional-Parit Sulong) on the government's stance on the Pandora Papers issue that recently resurfaced, Anwar said that stern and strong political action was needed to curb such illegal practices due to the complexity of the manner it was done.
Anwar said this because the practices involved trust funds and shares through several transactions involving several countries, including Singapore and Bahamas for tax evasion.
"Some of the fund sources could not be detected by the banks, whether they have paid the taxes or it was from any illegal activities and this is why a full and thorough investigation is needed.
"I also ask that all of you take a firm stand on such practices. Do not hide, argue and question the intention of any evidence-based investigation.
"If actions are taken without evidence, only then it could be questioned as abuse of power and has political motives."