KUALA LUMPUR, June 12 — The government will freeze offshore accounts in Labuan if the source of funds is found to be from unscrupulous means, a minister said.
Finance Minister II Datuk Seri Johari Abdul Ghani said the government will push for legal action after the completion of investigations on suspect accounts.
"This illicit activity is dangerous to the country's economy as it can lead to tax fraud and swindling.
"If these activities are not monitored and curbed, it can be used to fund extremist causes inside and outside the country," he was quoted saying by local broadsheet Utusan Malaysia.
In a previous news report, the daily had claimed that several billions of ringgit, including from fake investment schemes, has been parked in Labuan
The report also alleged that a portion of that money has been used to fund political campaigns looking to overthrow the current government.
