KUALA LUMPUR: The Securities Commission Malaysia (SC) and the Inland Revenue Board (IRB) have signed a memorandum of understanding (MoU) to strengthen inter-agency collaboration and safeguard the integrity of Malaysia’s financial ecosystem.
SC chairman Datuk Mohammad Faiz Azmi (pic) said the MoU will allow both agencies to work more closely within a secure and structured framework for exchanging relevant information.
He added that such cooperation would enhance their collective ability to detect, deter, and effectively enforce cases involving tax evasion, market misconduct, and abuse of the financial system.
“Ultimately, our collaboration will not only strengthen the fight against financial crime but also boost public confidence in our financial system, promote higher standards of governance, and support the nation’s growth story,” he said in his speech at the MoU signing ceremony here today.
Mohammad Faiz noted that, beyond information sharing, the MoU provides a platform for SC and IRB to leverage each other’s expertise through knowledge-sharing initiatives on securities laws and tax offences.
He also said both parties may explore secondment opportunities under the MoU, allowing officers from each agency to gain hands-on experience, enhance case-handling capabilities, and develop a deeper understanding of each other’s operations.
“By combining our respective expertise and experience, we will be better positioned to jointly address and resolve more complex financial crime cases, thereby enhancing trust in the financial system and the broader economy,” he added.
— BERNAMA
