All transactions involving the Malaysian banking system likely to be red-flagged as a result of Malaysian Official 1 aka PM Najib's theft

by Ganesh Sahathevan





The description of Malaysian Official 1 in the US DOJ's indictment seeking seizure of assets related to the theft from 1 MDB  leaves little doubt that the official is in fact   Malaysia's PM Najib: 


28. MALAYSIAN OFFICIAL 1 is a high-ranking official in the Malaysian government who also held a position of authority with 1MDB. During all times relevant to the Complaint, MALAYSIAN OFFICIAL 1was a “public official” as that term is used in 18 U.S.C. § 1956(c)(7)(B)(iv) and a “public servant” as that term is used in Section 21 of the Malaysian Penal Code. 

29. Riza Shahriz Bin Abdul AZIZ (“AZIZ”), a Malaysian national, is a relative of MALAYSIAN OFFICIAL1 and a friend of (JHO)  LOW. He co-founded Red Granite Pictures, a Hollywood movie production and distribution studio, in 2010.The description of Malaysian Official 1 leaves little doubt that he is in fact Malaysian PM Najib Razak: 


28. MALAYSIAN OFFICIAL 1 is a high-ranking official in the Malaysian government who also held a position of authority with 1MDB. During all times relevant to the Complaint, MALAYSIAN OFFICIAL 1was a “public official” as that term is used in 18 U.S.C. § 1956(c)(7)(B)(iv) and a “public servant” as that term is used in Section 21 of the Malaysian Penal Code. 

29. Riza Shahriz Bin Abdul AZIZ (“AZIZ”), a Malaysian national, is a relative of MALAYSIAN OFFICIAL1 and a friend of (JHO)  LOW. He co-founded Red Granite Pictures, a Hollywood movie production and distribution studio, in 2010.


While Najib is not the first head of government to have been implicated in theft from his own treasury, this may well be the first if not one of few instances where the head of government is also the minister in charge of the country's financial system. Consequently all transactions that involve the Malaysian financial system, or which are processed via the country's transaction processing infrastructure will have to be red-flagged by anyone that has to deal with it. Parties external to the system, including foreign banks operating in Malaysia run the risk of being themselves found in breach of  KYC and AML/CTF regulations in any  number of jurisdictions.
END 

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