Money Services Business amendment bill’s first reading today

The Money Services Business (Amendment) Bill 2024 was presented for the first reading in the Dewan Rakyat today, reported Bernama.

Deputy Finance Minister Lim Hui Ying, who tabled the Bill, said the second reading was also scheduled to take place this session.

According to a document posted on the Parliament’s website, the proposed amendment aims to provide for, among other things, the admissibility of evidence in trial proceedings for offences related to unlicensed money service businesses.

The proposed amendment also aims to empower the court to make an order of forfeiture for any property seized under the act.