KUALA LUMPUR (Nov 18): i-Serve Online Mall Sdn Bhd has requested that Bank Negara Malaysia (BNM) clarify “vague and factually incorrect” statements in a press release issued by the Central Bank on Monday (Nov 15) regarding the joint enforcement action on the company.
i-Serve Online Mall made the request via a letter from its lawyers Chetan Jethwani and Co to BNM that was sighted by theedgemarkets.com.
In the statement, BNM announced that the action taken against the company and its affiliates had led to the freezing of 45 bank accounts in seven banks and the seizure of RM118.7 million in cash.
The Central Bank said the action against the i-Serve Online Mall was for suspicion of committing various offences, including under the Financial Services Act 2003 (FSA) and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA).
The action was coordinated by the National Anti-Financial Crime Centre with BNM as the lead agency, along with the Securities Commission Malaysia, Companies Commission of Malaysia, Malaysian Anti-Corruption Commission, Royal Malaysia Police and CyberSecurity Malaysia.
i-Serve Online Mall contended that the statement made by BNM may mislead the public regarding the nature of the enforcement action taken against the company and its affiliates.
It added that the press release strongly suggested and gave the impression that i-Service Online Mall and its affiliates are guilty of committing serious financial crimes...
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