In recent years, the public has become increasingly concerned about the safety of personal assets, particularly money kept in banks. There have been reported cases involving online scams, cyber fraud, and even misconduct by bank officers, resulting in significant financial losses to innocent individuals.

 In addition, when a person is under investigation for suspected offences such as white-collar crimes, drug-related offences, or other serious crimes, law enforcement authorities may freeze, seize, or restrain bank accounts, cash, and other assets on suspicion that such property represents the proceeds of unlawful activity or is involved in money laundering. Such crimes are easy to allege but difficult to dislodge. You may be innocent but someone who dislike you may just lay an information that you have committed a white collar crime, would be enough to get your assets frozen by the investigating authorities.

It is important for the public to understand that money and property may be seized even before a person is charged or convicted. During investigations, authorities may classify funds as “suspected proceeds of crime.” In some cases, such assets may later be forfeited to the Government, and recovering them can be legally complex, time-consuming, and costly.

 This risk does not apply only to cash in bank accounts. Property such as vehicles, land, houses, and other assets may also be seized or restrained if they are suspected to be connected to money laundering activities.

 Members of the public are therefore advised to:

 Keep proper records and documentation showing the lawful source of funds and assets;

 Exercise caution in financial transactions;

 Seek legal advice at the earliest stage if their accounts or property are frozen or seized.

 Understanding your legal rights and obligations is essential to protecting your assets.

 In Malaysia, asset seizure and forfeiture for money laundering is governed primarily by:

 Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA / AMLATFPUAA)

 The authorities (Police / MACC / enforcement agencies) only need to show reasonable suspicion that the money or property:

 Is the proceeds of unlawful activity, or

Is connected to money laundering.

At this stage, no conviction is required.

Practically, the affected person already suffers loss of access to funds.

 Once forfeiture proceedings commence (especially civil forfeiture), the burden often shifts to the owner of the property to:

Prove that the money or asset was obtained lawfully, and

Show that it is not linked to any unlawful activity.

 This is a critical point that the public must understand:

You may have to prove your innocence in relation to your own money or property.

 The consequences will be that funds can remain frozen for long periods.

And legal costs may exceed the value of the seized assets.

Money could be forfeited permanently if the owner cannot sufficiently prove lawful origin.

 This statement is intended for public education and awareness. Every case depends on its own facts, and individuals affected by seizures or investigations should seek independent legal advice without delay.

Don’t delay because once you don’t contest the seizure of your assets within a time frame, you will never have any chance to recover them back from the seizing authority.