PETALING JAYA - Assets of terror suspects will be frozen in a new initiative by the authorities to stop the financing of terrorist activities, says the Home Ministry.
It said the Anti-Money Laundering and Anti-Terrorism Financing (Security Council Resolution) (Al-Qaeda and Taliban), which came into effect on Sept 10, will target individuals or groups involved in terrorism, especially the al-Qaeda and Taliban.
"Banks and investment institutions are required to check and compare the names of individuals and groups in their databases with the list issued by the United Nations Security Council (UNSC)," it said in a statement yesterday.
The ministry said the UNSC's list of names could be checked via www.un.org/sc/committees/1267/aq_sanctions_list.shtml and www.un.org/sc/committees/1988/list.shtml.
"If there is a match with the UNSC database, then the reporting institutions are required to freeze their assets and report the matter to the respective authorities.
"The reporting institutions are also required to report any suspicious transactions to Bank Negara Malaysia's Financial Intelligence Unit.
"Those who failed to adhere to this order can be fined up to RM100million (S$39 million) or imprisoned for a year or both," it said.
The ministry said it viewed the Islamic State of Iraq and the Levant (Isil) terror activities seriously as it was a threat to the country and its assets and funds must be frozen immediately.
In George Town, Deputy Home Minister Datuk Dr Wan Junaidi Tuanku Jaafar said the ministry will soon disclose 23 illegal organisations involved in crime in addition to the 49 it named in August last year.
"We will not simply label any organisation illegal. If the police provide me with names, I will ask for evidence of their illegal activities," he said yesterday.
The police launched Ops Cantas last year to catch the members of the 49 illegal groups, including gangsters.