Inspector-General of Police Razarudin Husain said 10 locals have been detained and will be remanded for up to seven days for investigation under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing, and Proceeds of Unlawful Activities Act 2001.

Razarudin said investigations revealed that the syndicate had been operating since 2017, conducting scams overseas before channelling the funds to Malaysia.

“Money from the scams and illegal activities that took place in foreign countries was transferred to Malaysia through unregistered money changers and cryptocurrency transactions,” he said at a press conference in Kuala Lumpur today.

He said the funds were then spent on luxury items, number plates, and even investments in a 100-acre durian farm in Pahang.

The seized items included 129 vehicle grants with exclusive registration numbers valued at RM18 million, 85 luxury watches and bags worth RM10 million, 18 luxury vehicles worth RM8 million, cash amounting to RM503,000, and 203 motorcycles worth a total of RM406,000.

The police also froze 33 bank accounts with a total of RM10.7 million.

Razarudin said several more syndicates were under the police’s radar, with investigations underway.

“We are also conducting investigations on fake accounts and online betting. So far, we have frozen bank accounts with up to RM32 million in funds,” he said.