Implications of forfeiting property in money laundering cases in Malaysia

Zaiton Hamin, Normah Omar and Muhammad Muaz Abdul Hakim

Journal of Money Laundering Control, 2017, vol. 20, issue 4, 334-344

Abstract: Purpose - The purpose of this paper is to examine the broad concept of forfeiture, its legal positions in the UK and Malaysia, and to highlight the implications of such forfeiture systems and legislations. Design/methodology/approach - This paper uses a doctrinal legal analysis and secondary data, which analyses primary sources, thePOCA (2002)and the AMLATFA 2001, and secondary sources including case law, articles in academic journals, books and online databases. Findings - The authors contend that the civil forfeiture system and law have far-reaching implications, affecting not only law enforcement agencies, but also on property owners, the courts and bona fide third parties. Also, civil forfeiture law as contained in AMLATFA 2001 represents one of the most serious encroachments on private property rights. Not only that, such a legal rule has made property, and not the owner, guilty until proven innocent. Originality/value - This paper could be a useful source of information for practitioners, academicians and students. It could also be a beneficial guide for policymakers for any possible future amendments to the law.

Keywords: Money laundering; Terrorism financing; Forfeiture (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:jmlc-10-2015-0046

DOI: 10.1108/JMLC-10-2015-0046

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