The 1Malaysia Development Berhad scandal remains one of the largest cross-border financial crimes in modern history. When details emerged, they exposed how major banks, offshore jurisdictions, and financial intermediaries enabled more than $4.5 billion in stolen funds to move freely across borders. Former Prime Minister Najib Razak, fugitive financier Jho Low, and a network of global partners used the stolen money to buy luxury property, artwork, private jets, and even finance Hollywood films.
The 1MDB scandal revealed how weak global financial safeguards were, and how easily national budgets can be looted with international help. For Malaysia, the fallout was severe. But rather than accepting the damage, it chose to fight back by launching a global campaign to recover stolen assets and hold foreign institutions accountable.
How FATF Became Central to Malaysia’s Recovery Strategy
The Financial Action Task Force (FATF), an intergovernmental watchdog founded in
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