Kuala lumpur: The Malaysian Anti-Corruption Commission (MACC) has announced its intention to recover an additional USD2 billion in funds related to the 1Malaysia Development Berhad (1MDB) scandal by the end of 2027. This effort marks a significant step in the ongoing investigation into one of the most notorious financial scandals in recent history.

According to BERNAMA News Agency, MACC Chief Commissioner Tan Sri Azam Baki revealed that the funds are suspected to be associated with several individuals who allegedly possess assets and proceeds linked to the 1MDB scandal overseas. Azam emphasized the challenge that lies ahead, particularly in navigating legal complexities, but expressed confidence in the cooperation between MACC and foreign countries to achieve this goal.

Azam highlighted MACC's notable progress in recovering RM31.3 billion, which constitutes 74.5 percent of the RM42 billion in funds allegedly misappropriated from 1MDB. He described this achievement as unprecedented in Malaysia's history of asset recovery. Azam recounted the initiation of MACC's commitment to the 1MDB case on July 3, 2015, marking a decade-long effort to reclaim the misappropriated funds.

Earlier reports indicated that Malaysia had successfully recovered RM31.3 billion by the end of the previous year, surpassing earlier estimates of 70 percent recovery, or RM30 billion. Azam noted that this rate of asset recovery is among the highest globally for a large-scale financial crime scandal.