KUALA LUMPUR: The passing of amendments to the law with the aim of clamping down on the use of mule accounts for illegal activities is a positive measure towards effective enforcement on scam cases, says Comm Datuk Seri Ramli Mohamed Yoosuf.
"We welcome the development as previously there is no specific legislation to punish culprits involved with mule accounts. Comm Ramli said under the amendments, several new sections – 424A, 424B, 424C and 424D – were included under the Penal Code for offences related to payment instruments or accounts at financial institutions.
"Those found guilty could face a fine of between RM5,000 and RM50,000, imprisonment of between six months and five years, or both upon conviction," he said.
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