“Put Seized Corruption Money into Tabung Harapan,” Transparency International Suggests

It’s been just over a week since the Tabung Harapan Malaysia (THM) fund was open for the public to make their contributions, and we’ve already garnered close to RM50 million!

However, although there is a huge number of Malaysians contributing from their own pockets, Transparency International Malaysia (TI-M) has now proposed an idea that could help contribute a lot more money to THM.

Source: the star online | youtube

According to Free Malaysia Today, TI-M suggested to use the money obtained from illegal activities that have been seized by the government for programmes that would benefit the society, or donate it to the national fund. 

The organisation’s president, Akhbar Satar stated that there was about RM670 million worth of goods, including cash, gold, and jewellery among other items, that the Malaysian Anti-Corruption Commission (MACC) seized between 2016 and 2017 that could be channelled into THM.

He added that the money the government plans to recover from the 1Malaysia Development Berhad (1MDB) scandal could also be used for the betterment of the country and its people.

Aside from that, Akhbar added that the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA) should be strictly enforced by the government as it can effectively fight against money laundering and terrorism financing.

Source: the sun daily

He told the daily,

“Dirty money is cleverly cleaned using various methods in order to conceal its criminal origins and make it appear ‘clean’ instead of being derived from illegal activities such as corruption, drug trafficking, terrorism, robbery, prostitution, illegal gaming, arms trafficking, bribery, corruption and cigarette smuggling.”

“The AMLATFPUAA law is very powerful in that it places the burden on the suspect to explain in the court of law the source of the money in his control or possession. He has the duty to prove or provide the paper trail or documented evidence to show that the money and assets were acquired from legal sources such as business, borrowed money, dealings, inheritance or even lottery.”

Well, let’s see what the government makes of TI-M’s recommendations. Do you think this suggestion is a good idea? Let us know in the comments below!

Also read: Tabung Harapan Has Now Collected Nearly RM50 Million in Under 2 Weeks