Police have arrested 71 individuals, including eight foreigners, suspected of acting as mule account holders in 59 raids conducted nationwide from July 29 to 31.
Bukit Aman commercial crime investigation department (CCID) director Rusdi Isa said initial findings suggest links to phone scam syndicates, fake loans, illegal moneylending, and unlicensed moneychanging or remittance services.
He said the operation, carried out with Bank Negara Malaysia, targeted fraud syndicates trying to withdraw money using mule accounts.
The raids were based on cases reported to the National Scam Response Centre.
Twenty-four of the raids were carried out in Kuala Lumpur, followed by 11 in Penang, eight in Sabah, five in Perak, four in Pahang, three in Selangor, and two each in Negeri Sembilan and Sarawak.
The suspects, aged 19 to 50, include 55 Malaysian men and eight women, and eight foreign men – four from Bangladesh, and one each from China, Nigeria, Myanmar and Indonesia.
Police also seized 925 ATM cards, RM392,266 in cash, five vehicles,100 mobile phones, 32 SIM cards, and other electronic items.
Investigations were opened under multiple laws, including Sections 420, 424, 424A, and 511 of the Penal Code, and Sections 5(2), 15A(1)(b), and 29AA of the Moneylenders Act 1951.
Rusdi said 10 people have been charged under Section 424A of the Penal Code with allowing others to use their bank accounts for illegal purposes, with six others charged with offences under the Minor Offences Act 1955.
The remaining 55 have been released on police bail pending further investigation.
He advised the public not to lend or rent out their bank accounts or assist in withdrawing money using ATM cards registered under other people as they are criminal offences.
