POLICE are undertaking “intensive investigation” into the royal commission of inquiry (RCI) report on Bank Negara Malaysia’s forex losses, Inspector-General of Police Mohamad Fuzi Harun said. 

He said more time is needed before the police can wrap up the investigation as they have yet to identify the people mentioned in the report.

The RCI report was released in Dewan Rakyat last week. 

“Intensive investigation is ongoing.

“We are working day and night to ensure the investigation will be completed as soon as possible,” he told reporters in Kuala Lumpur today. 

When asked whether the investigation would be completed before the next general election, he said: “I’m not sure. You have to give us time because I have been pressing my officers day and night.”

Previously, Fuzi promised the police would be fair when investigating the findings, saying a special team has been set up to investigate the case. 

Police have opened investigations under Section 409 of the Penal Code for Criminal Breach of Trust following the lodging of a police report by the commission’s secretary Dr Yusof Ismail in Putrajaya last Thursday. 

A conviction under section 409 carries a maximum sentence of 20 years, with whipping and a fine. 

The RCI report pinned the blame for the billions of ringgit of lost from foreign exchange trading on former BNM adviser Nor Mohamed Yakcop, then-prime minister Dr Mahathir Mohamad and former finance minister Anwar Ibrahim.

The RCI, led by Petronas chairman Mohd Sidek Hassan, had concluded that BNM recorded a loss of RM31.5 billion in forex losses between 1992 and 1994. 

Apart from Nor Mohamed, Dr Mahathir and Anwar, the RCI also recommended investigations into former deputy governor Lin See Yan, BNM board of directors, and officials from the National Audit Department and Finance Ministry.

Dr Mahathir has said he will file a judicial review to block the RCI report should the panel refuse to include in its report his written submission and other legal documents totalling 495-pages. – December 6, 2017.