Published: Friday May 7, 2010 MYT 12:26:00 PM
Updated: Friday May 7, 2010 MYT 12:46:32 PMBank Negara investigates The Gold Label
KUALA LUMPUR: Bank Negara is investigating The Gold Label Sdn Bhd on suspicion of conducting illegal deposit taking and money laundering activities.
This is in breach of subsection 25(1) Banking and Financial Institutions Act 1989 and subsection 4(1) of Anti-Money Laundering and Anti-Terrorism Financing Act 2001 respectively.
The central bank said in a statement that the raid on The Gold Label was conducted yesterday at its premises in Kuala Lumpur following complaints received from members of the public.
“Relevant assets and documents of the company were seized for purpose of investigation,” it said.