THE Immigration Department has toppled an illegal money-changing syndicate masterminded by foreigners in a special operation in Kuala Lumpur and Selangor on Sunday and Monday. 

Its director-general Ruslin Jusoh said his officers raided 10 locations where unlicensed money-changing activities were suspected to have taken place, masterminded by three men from India, Indonesia and Bangladesh. 

“The syndicate operates in restaurants, grocery stores, cosmetic outlets and kiosks, selling electronic products to avoid detection by the authorities, and offers cheap rates to remit money out of the country,” he said in a statement today. 

He said the sting, which was carried out by the department’s special operations and intelligence division with the cooperation of Bank Negara, resulted in the arrests of 55 foreigners. 

Ruslin said the department also confiscated RM300,527 in cash suspected to be from money-changing activities, mobile phones, record books, and documents of overseas remittances, including to Bangladesh and Indonesia. 

“Based on the amount of cash seized, we believe the syndicate was capable of handling remittances amounting to RM108 million a year,” he said, adding that the suspects were taken to the Semenyih Immigration Depot for further action. 

He said they are all suspected of committing offences under the Immigration Act 1959/63, Immigration Regulations 1963, and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. – Bernama, April 5, 2023.