Bank Negara Malaysia seized luxury items and froze 92 bank accounts worth over RM30 million in a raid targeting XFOX Market Sdn Bhd and others. The joint enforcement operation, conducted on July 30 in the Klang Valley, aimed at infractions under the Financial Services Act (FSA) 2013.
Read More LM News
Luxury items
Follow us on:
Read More News #latestmalaysia
Read More News on Business News Malaysia
Authorities confiscated gold, cash totaling over RM4.85 million, including foreign currencies, cryptocurrency, and luxury vehicles. XFOX Market had been listed on Bank Negara’s Financial Consumer Alert list since June 14, 2023. The operation involved multiple agencies, coordinated by the National Anti-Financial Crime Centre, highlighting severe penalties for FSA violations.
