Amla force chief Hasbullah Ali said the assets comprise a central depository system account with stocks worth RM281 million, an escrow account worth RM18.6 million managed by an offshore bank in Labuan, and RM58,048 in two local bank accounts.

He said the police were tipped off by a bank to the suspect’s activities.

“Our investigation showed that the suspect, in his 30s, received his proceeds from online gambling, which he had run since 2012.

“Last year, we found that from 2012 to 2020, he had earned RM14.1 billion and transferred RM300 million to Malaysia to be laundered,” Hasbullah said in a media conference, without revealing the suspect’s name or nationality.

He said Interpol was alerted to the activities of the suspect, who has dual nationality, and put him on its Red Notice for illegal gambling and money laundering.

The case is being investigated under Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

To help prevent money laundering, Hasbullah advised offshore banks to ramp up their due diligence and know your customer (KYC) processes for people who wish to open their accounts here.