OPDAT Counterterrorism Malaysia Hosts Virtual Webinar on Seizing and Managing Assets Used in Money Laundering, Terrorism, and Terrorist Financing

On August 6, OPDAT Counterterrorism Malaysia Resident Legal Advisor (RLA) held a webinar for some 74 stakeholders. Attendees included the Chief Justice of Malaysia Tengku Maimun binti Tuan Mat; the Chief Judge of Sabah and Sarawak Abang Iskandar Abang Hashim; the Attorney General’s Chambers; the Central Bank of Malaysia; the Companies Commission of Malaysia; the Labuan Offshore Financial Services Authority; the Malaysian Anti-Corruption Commission; the Ministry of Domestic Trade and Consumers Affairs; the Royal Malaysia Police; the Royal Malaysian Customs Department; the Securities Commission Malaysia; and the Inland Revenue Board of Malaysia. The webinar focused on seizure and management obstacles and solutions for assets commonly found in money laundering and terrorism investigations, such as personal and real property, conveyances, assets held out-of-the-country, and cryptocurrency.

U.S. Embassy Kuala Lumpur Deputy Chief of Mission Michael Newbill delivered opening remarks. The panel speakers were all from the U.S. Marshals Service’s (USMS) Asset Forfeiture Division including the Assistant Chief Inspector in the International Unit, Assistant Chief in the Personal Property Unit and Assistant Chief in the Complex Asset Management Unit. The webinar was moderated by the incoming RLA to Malaysia Aaron Lucoff.

USMS Assistant Chief in the Personal Property Unit discussed the process for managing and disposing of seized personal property, including unusual assets like animals, fine art, jewelry, vessels, and airplanes. Assistant Chief Inspector in the International Unit then presented on the USMS’s International Unit. He talked about how his unit works with foreign partners to seize and recover assets held inside the United States or in other countries. Lastly, Assistant Chief in the Complex Asset Management Unit presented on how the USMS seizes, manages, and disposes of cryptocurrency. The question and answer segment focused on issues such as recovering assets held in countries that are not cooperative with law enforcement, the participation of prosecutors in pre-seizure planning, and handling cryptocurrency when its value significantly fluctuates.