Police investigations into the foreign exchange (forex) dealing losses incurred by Bank Negara Malaysia in the 1990s are expected to take a long time.

Inspector-general of police Mohamad Fuzi Harun said the police will have to study the Royal Commission of Inquiry's (RCI) report and identify witnesses who will be called in connection with the case.

Mohamad Fuzi said the case was being investigated under Section 409 for criminal breach of trust (CBT) and the public should not make any speculation about it since investigations were continuing.

“The investigation has no time frame. If there are many witnesses, we need a long time, and if there are not many witnesses, it will be completed early,” he told reporters after the closing the Inspector-General of Police Tennis Championship and Silat Cup 2017 at the Kuala Lumpur Police Training Centre.

“Do not make any assumptions because it is unfair. The police will investigate it fairly and we know what needs to be done,” he added.

Last Friday, Mohamad Fuzi was reported as saying police had set up a special team to investigate the foreign exchange dealings losses incurred by Bank Negara in the 1990s.

The team which is headed by Bukit Aman Commercial Crime Investigation Department director Amar Singh Ishar Singh, was set up after the police received a report on the matter.

On Nov 30, the RCI on the forex losses tabled a 400-page report of its recommendations in parliament, after which the RCI secretary Yusof Ismail lodged a police report.

Yusof said the report would enable the police to conduct a formal investigation into the offence of breach of trust, fraud and other offences which may have been committed by parties stated in the report.
 

- Bernama