Kuala Lampur:Speaking at a media roundtable organized by the Asian Institute of Chartered Bankers in conjunction with the 16th International Conference on Financial Crime and Counter Terrorism Financing 2026, Dr. Raymon Ram emphasized that mule accounts serve as a key channel for criminal syndicates to move illicit funds.
According to BERNAMA News Agency, TI-Malaysia is conducting interviews with convicted offenders to understand their involvement in mule activities. Dr. Ram stated that these interviews aim to identify recruitment methods and motivations, anticipating the publication of a research paper soon.
Dr. Ram pointed out that many mule account holders, including students, may be unaware of their involvement with criminal syndicates. They are often lured by seemingly legitimate job offers that require them to open bank accounts or permit the use of their accounts for transactions, without realizing the criminal implications.
He stressed the importance of targeting awareness efforts at vulnerable groups, such as students and housewives, rather than relying solely on broad anti-scam campaigns. Furthermore, company accounts are also at risk of exploitation for large-value transactions, whether knowingly or unknowingly.
At the same roundtable, Pav Gill, founder and CEO of Confide Platform, criticized Malaysia's Whistleblower Protection Act 2010 for being weak and called for its strengthening to better protect whistleblowers. He highlighted the need for better corporate accountability and internal reporting mechanisms to address wrongdoing and protect those who raise concerns.
Gill suggested that Malaysia could learn from international practices and should consider stronger protection and incentives for whistleblowers. He also mentioned that tougher deterrent measures, like those used in Singapore, could be effective in preventing criminal activity.
The roundtable included participation from AICB CEO Edward Ling, crime prevention specialist Dr. Shamir Rajadurai, and SymphonyAI Singapore's APAC compliance and financial crime industry advisor Martin Smith, and was moderated by Luqman Hariz from Astro Awani.