Najib-SRC Trial: BNM Didn’t Flag Any Red Alert On Fund Transactions In Najib’s Accounts
(nthqibord.com) – Bank Negara Malaysia (BNM) didn’t flag Amla or STR red alerts on any money transaction involving 3 private current accounts of former Prime Minister Datuk Seri Najib Razak, the Kuala Lumpur High Court heard today.
AmBank Jalan Raja Chulan branch manager R. Umma Devi testified on Tuesday, April 30, 2019, that BNM was fully aware about all these transactions involving the 3 accounts with numbers ending 880, 898 and 906.
She confirmed that these accounts were separate from the earlier 2 accounts that received political funds between 2011 and 2013.
The later 3 accounts were opened in mid-2013 and closed in 2015.
Umma Devi testified that BNM did not raise red alert flags despite 40 overdrawn transactions involving the 3 accounts, which were not facilitated with overdraft privileges.
During cross examination by the defence, Umma Devi said that the overdrawn transactions of money were as high as between RM5 million and RM7 million at times.
She said numerous inter-account transfers of money and cash deposits, which at times were up to RM1.5 million, were made into Najib’s accounts to cater the overdrawn transactions.
“Despite all these heavy transactions of money, BNM never raised the red alert flags”, she told the court.
BNM is the highest financial body that monitors and investigates any suspicious money transactions in the country.
Tan Seri Zeti Akhtar Aziz was then BNM Governor.
Amla is the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 and STR is Suspicious Transaction Report.
Najib had opened several private accounts in AmBank since January 13, 2011 to manage the political funds, which was worth approximately RM2.751 billion.
On Monday, Umma Devi testified that BNM was fully aware of and had consented to transactions of these political funds in and out of Najib’s first 2 bank accounts, which were closed in August, 2013.
The transactions took place in 3 stages between 2011 and 2013.
The 21st witness has told the court that BNM was alerted under the Ringgit Operations Monitoring System in February, 2011 on the imminent incoming political funds.
BNM and Zeti were fully aware about all details of the political funds, including their source.
