Kuala Lumpur:The Malaysian Anti-Corruption Commission (MACC) has frozen assets valued at RM1.27 billion from 2022 to September this year. These assets include bank accounts, jewellery, immovable property, and other valuables, as revealed by Deputy Minister in the Prime Minister's Department (Law and Institutional Reform), M. Kulasegaran.

According to BERNAMA News Agency, the asset freezes were executed under Section 44 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Act 613). In 2025, 1,336 asset-freezing orders were issued, with an additional 1,006 orders issued from January 1 to September 30 this year.

A total of 481 freezing orders were revoked without charges in 2025, and another 781 were revoked in the first nine months of this year. Kulasegaran emphasized that the withdrawal or cancellation of a freezing order does not imply that no offence occurred or that the investigation lacked basis. Freezing assets is part of the investigative process to prevent assets suspected of being linked to an offence from being transferred or disposed of.

Kulasegaran responded to a question from Datuk Seri Dr Wee Ka Siong regarding the power to freeze assets under Section 44 of Act 613 and regulatory issues involving the MACC during a Special Chamber sitting in the Dewan Rakyat. He assured that investigations by the MACC and other enforcement agencies follow established criteria and are not conducted arbitrarily.

Preliminary actions are based on reports, prima facie investigations, and suspicious transactions, such as large sums moving in and out of accounts. The 90-day period under Section 44 allows for the revocation of a freezing order once an investigation is completed.

Kulasegaran agreed with the suggestion of implementing a law similar to Singapore's, which requires court approval before freezing accounts, to protect minority shareholders. He mentioned that this proposal is under consideration to enhance governance and maintain the MACC's reputation.