Malaysia legislation
Section 176
Section 176
(a)
any money or other property originating from a transaction, operation or other activity which is a criminal offence under the laws of Malaysia or which, had it been carried out in Malaysia, would have been such an offence; or
(b)
any money or other property the receipt, ownership or control of which is or would be an offence as specified in paragraph (1)(a).
Labuan Financial Services and Securities 171
(2)
Where any person, being a director, officer or agent of any such licensed entity or such person specified in subsection (1)—
(a)
has reason to believe that the licensed entity or person specified in subsection (1) has property or has income accruing to it or derived by it and originating from a transaction, operation or other activity which is a criminal offence under the laws of Malaysia or which, had it been carried out in Malaysia, would have been such an offence; or
(b)
has received or has in its possession or control money or other property the receipt, ownership or control of which is or would be an offence as specified in paragraph (2)(a), it shall be the duty of such person to forthwith bring the matter to the notice of the Authority.
(3)
Any person who without reasonable excuse fails to comply with the requirements of subsection (1) or (2) commits an offence and shall, on conviction, be liable to a fine not exceeding one million ringgit or to imprisonment for a term not exceeding three years or to both.
(4)
All monies or property described in subsections (1) and (2)
shall be forfeited to the Government and become its property absolutely.
Examination and inspection of books and documents of licensed entities