No Funding Of Violence By NPO In Malaysia

KUALA LUMPUR, Oct 1 (Bernama) -- There is no funding of violence by parties through non-profit organisations (NPOs) in the country, says Domestic Trade, Cooperatives and Consumerism Ministry (KPDNKK) secretary-general Alias Ahmad. He said although only about 100 cases of money laundering were detected in the last three years, Malaysia was not safe from parties carrying out such activities. "However, Malaysia is not a hub for terrorists nor for parties funding violence by Malaysians," he told reporters after representing the KPDNKK minister to open the National Seminar on Money Laundering and Prevention of Violence Funding by NPOs 2014, here, Tuesday. In this regard, Alias stressed that the ministry through the Companies Commission of Malaysia had taken the initiative to hold this awareness seminar to protect NPOs from becoming a platform for money laundering or funding of violent activities. "We've been cooperating with the Registrar of Societies in taking measures including creating awareness on the dangers of money laundering and steps needed to be taken to avoid becoming victims. Earlier, in his opening speech read by Alias, the minister, Hasan Malek, said although there were not many cases in the country, current global developments and technological advancement could widen the network of money laundering. "Money laundering is a global issue in which the International Monetary Fund (IMF) has estimated its growth of two to five per cent each year," he said. Hasan said the measures taken by the government included improving and tightening legislations, including changing the Anti-Money Laundering Act 2001 to the Anti-Money Laundering and Anti-Terrorism Financing Act 2007. "The latest amendment was passed by Parliament in June, 2014," he said. Hasan said NPOs were a potential institution exposed to money laundering activities and violence funding. The seminar was attended by 250 participants representing NPOs in Malaysia. --BERNAMA