Three bank officers remanded over RM21 million loan fraud

THREE bank officers from two financial institutions in Kuala Lumpur have been remanded for five days as the Malaysian Anti-Corruption Commission (MACC) investigates alleged corruption and money laundering involving over RM21 million in fraudulent loan applications.

The suspects — a business manager, a department head, and a branch manager, all aged between 30 and 40 — were arrested yesterday between 4pm and 5pm at the MACC headquarters in Putrajaya soon after giving their statements.

Magistrate Mohd Dinie Shazwan Ab Shukor issued the remand order until May 18, 2025.

According to sources, the trio are believed to have jointly possessed, transferred, and utilised funds obtained as bribes from three companies throughout 2024.

“Preliminary investigations indicate that one suspect, a department head, is believed to have solicited and received over RM170,000 from the companies in return for processing and approving five loan applications valued at more than RM21 million,” the source said.

Following the arrests, MACC froze four bank accounts linked to the individuals with combined balances of approximately RM268,000. Investigators also seized three mobile devices and one laptop.

 MACC's anti-money laundering division director, Norhaizam Muhammad, confirmed the arrests and said the case is being investigated under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA). - May 14, 2025