MALAYSIAN criminals and politicians, including a former top national leader, are increasingly hiding illicit wealth in a West Asian country that has become a preferred destination for money laundering and asset concealment.
The Malaysian Anti-Corruption Commission (MACC) said it has identified luxury properties purchased in cash in the West Asian country using undeclared funds.
The country’s open-door policies, allowance of 100% foreign ownership in property, opaque luxury real estate market, weak enforcement, and lack of strict anti-money-laundering controls make it attractive.
MACC chief commissioner Tan Sri Azam Baki confirmed that the West Asian country is in the spotlight of local graft busters.
“Recently, we have detected that the country has become a focal point for those involved in dubious financial activities such as money laundering,” he said.
“There, they can bring in cash and even deposit the funds into banks, which is why it has become a preferred destination for those involved in financial crimes, including from Malaysia.”
Azam said that most countries, including Malaysia, reject questionable funds and impose strict anti-money laundering compliance requirements.
“However, the country in question does not practise such policies. In cases we are investigating, there are well-known high-profile figures who own luxury assets there.
“Investigations found that the assets were purchased in cash. In cases we are investigating, there are well-known high-profile figures who own luxury assets there. Investigations found that the assets were purchased in cash,” he added. — Jan 17, 2026
Main photo credit: AFP
