Gerakan vice-president Mah Siew Keong said Malaysia’s recent second place ranking in terms of global illicit capital flight was a major embarrassment.

NONE “This is one of the few reports that Malaysians hoped to be placed down the ladder.

"It is indeed embarrassing for the country to be placed in the top three  in the world considering the fact that we are just a small country,” he said, referring to the report by Global Financial Integrity (GFI).

The Washington-based financial watchdog placed the country behind China in global illicit capital flow and said the level of such flows from Malaysia in 2010, close to RM200 billion, was the highest in 10 years.

This reflected something wrong with Malaysia's enforcement as it was impossible to siphon so much money without detection, Mah called for immediate rectification action to be taken.

azlan He stated that large syndicates were behind the matter and urged the government to take action through Bank Negara as well as the Malaysian Anti-Corruption Commission (MACC) to seek the root of the problem.

“Previously, there was another report regarding illicit funds where Malaysia lost about RM150 billion back in 2009, where it was placed in the top four of the world then. It seems that the situation has become even worse now,” he said in a statement today.

Mah, who is also Gerakan central economic bureau chief, added that the government also owes the rakyat an explanation over this state of affairs, as it must “serve and protect the interests of the people”.

Najib, where's the probe on illicit outflow, asks DAP