Financial Crimes and Asset Recovery

 

Introduction

From the early days of the Zharif Nizamuddin’s inception, the Firm has been assisting clients from all spectrums in dealing with issues arising from financial crimes which covers corruption, fraud, tax evasion or any of the scheduled offences under the Malaysian Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Act 2001 (AMLA) regime,

Our internal team which comprises of lawyers, legal executives and financial analysts have represented a wide range of clients, including the government, enforcement agencies, corporations, or institutions; due to their involvement as victims, whistle-blowers, witnesses with valuable information or accused of committing the financial crime and alleged offenders. In ensuring the best possible outcome, we have experience working closely with various enforcement agencies, asset tracing specialists and lawyers across the globe.

Nizamuddin Hamid heads our Financial Crimes and Asset Recovery Practice Group, while our Corporate Commercial Partner, Amir Zharif Abdullah also contributes a significant part of his time leveraging on his compliance-related experience in an international law firm and an in-house counsel of a global group of energy and petrochemical companies.

Asset Recovery

Recovering assets misappropriated through financial crimes requires lawyers to work closely with forensic accountants, auditors, asset tracing specialists and enforcement agencies in ensuring that most if not all of the misappropriated assets are identified accordingly.

Agility and the capacity to network internationally are the essence of most complex asset recovery cases, where typically assets are moved from one jurisdiction to another through a string of complex financial transactions.

Our Firm has proven its agility and ability to coordinate complex asset recovery exercises with stakeholders from multiple jurisdictions and among others, the Firm has been mandated by the Government of Malaysia in 2019 to assist the Malaysian Anti-Corruption Commission (MACC) in recovering assets related to 1Malaysia Development Berhad outside of Malaysian jurisdiction. Part of the exercise includes the on-going action against Tarek Obaid and the Petrosaudi group of companies by the Government of Malaysia.

Financial Crimes

With cases of corruption, fraud, tax evasion and other related financial crimes on the rise not only in Malaysia but globally, enforcement agencies have stepped-up their efforts by exercising their considerable powers under the Malaysian Anti-Corruption Act 2009 (MACC Act) as well as AMLA against alleged offenders and even witnesses accused of committing financial crimes.

Taking heed of the growing need to provide prompt legal guidance, crisis management, training as well as legal representation for corporations and individuals in such an event that a competent enforcement agency queries or investigates an alleged offence of this particular nature, we are more than ready to assist you along the way in ensuring the best possible outcome.

What We Offer

Training & Prevention

We believe in the old adage of “An ounce of prevention is worth a pound of cure.”
In that regard, we have been providing trainings in various subject areas,
particularly on relevant provisions concerning financial crimes and corporate
liability in Malaysia to mitigate potential risks.

Whistleblower Protection

Whistleblower are protected in Malaysia by the Whistleblower Protection Act 2010. The objectives of the law are to combat corruption and other wrong doings by encouraging and facilitating disclosures of improper conduct in the public and
private sector.

We have acted for multiple whistleblowers in ensuring that they are protected and there is no undesirable outcome from the disclosure made by them.

Crisis Management

We are ready to assist you should you find yourself or corporation being raided or investigated by enforcement agencies for any type of financial crimes.

We provide assistance in all types of regulatory queries or investigations conducted by the various enforcement agencies in Malaysia. We will assist and support you at every stage, which includes ensuring that you duly comply with your legal obligations and at the same time, ensuring the protection of any sensitive and confidential information.

Our Firm has represented a wide range of clients, including government linked companies, corporations, high net worth individuals and public/corporate leaders in incidents allegedly linked to financial crimes.

Our experience includes representing multiple parties alleged to be linked to the recent 2020 Macau Scam investigation by MACC, celebrities who are being investigated under the AMLA regulatory framework and public/corporate leaders who are being investigated for corruption, including the recent 2020 investigation involving employees of the Malaysian national oil and gas company and 2019 investigation involving multiple land developments deals in the northern region of Malaysia.

Legal Application

Our Firm has represented various parties in working through the MACC Act or AMLA regulatory framework in assisting them in revoking or varying seizure orders against their assets, and ultimately providing sound legal advice against confiscation of our client’s assets by the enforcement agencies.

We have filed various legal applications under the MACC Act or AMLA regulatory framework for the revocation of seizure orders and challenging confiscation/forfeiture applications by the enforcement agencies.

Defence against Prosecution

As much as we strive to avoid prosecution in court by working through the MACC Act or AMLA regulatory framework, it may be the case that an investigation ends up in prosecution. In such a scenario, we provide legal advice as well as legal representation in court to defend against the allegations forming the subjectmatter of the prosecution.

We are proud to be among the few firms in Malaysia focusing on Financial Crimes and Asset Recovery. We constantly strive to improve by exploring new legal arguments in working through the MACC Act and AMLA regulatory framework and continue to provide bespoke legal services in ensuring the best possible outcome for you or your corporation.

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