Background Information The concept of illicit financial flows (IFF) has garnered widespread attention and controversy on a global scale. Illicit assets refer to assets acquired through illegal activities, such as corruption, transnational organized crimes, money laundering, or tax evasion. Illicit financial flows (IFF) therefore, refers to the movement of funds derived from these illicit activities across borders, often involving secrecy and deception.
KUALA LUMPUR, March 17 1MDB’s Assets Recovery Trust Account still has a balance of RM15.76 billion, including from hibah and foreign exchange gains/losses, to repay most of the principal and interest on 1MDB debt in 2022. Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz said to make up.