Malaysia police seize RM409 million in corporate mafia probe

The Royal Malaysia Police (PDRM) has frozen and seized assets totaling approximately RM409.21 million as part of ‘Op Viking,’ an investigation into allegations of a ‘corporate mafia’ in Malaysia. Home Minister Datuk Seri Saifuddin Nasution Ismail confirmed the action involves 404 bank accounts worth roughly RM85.62 million, 417 central depository system (CDS) accounts, and 70 share-trading accounts valued at RM323.59 million.

In addition to financial accounts, authorities have frozen or seized eight properties and 11 vehicles. As of September 25, 2026, 70 individuals have been called to provide statements to assist with the investigation. Saifuddin noted that no Malaysian Anti-Corruption Commission (MACC) officers have been identified or found to be involved in the matter.

The investigation follows reports alleging that enforcement agencies abused their power to pressure businesspeople into selling company shares at low prices to facilitate corporate takeovers. The probe was initiated under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA).