Bank Negara Malaysia (BNM), the Malaysian Anti-Corruption Commission (MACC) and the Inland Revenue Board of Malaysia (LHDN) will join forces to combat financial crimes and strengthen the country's financial system.
"The tri-partite effort would also able to increase the national revenue and build a country that is free from corruption and abuse of power," they said in a joint-statement in Kuala Lumpur today.
BNM governor Muhammad Ibrahim said the collaboration would stem the channelling of illegal proceeds and illegal transactions through the financial system.
"This is key in preserving the integrity and public confidence in the Malaysian financial system," he said.
MACC chief commissioner Dzulkifli Ahmad said the collaboration would also allow the exchange of information on investigation and reinforce the sharing of best practices between the three agencies as each has its own unique challenges in combating financial crimes, corruption and tax evasion.
LHDN chief executive officer Sabin Samitah said this strategic alliance was a necessary step towards reducing tax leakages resulting from financial crimes.