PUTRAJAYA:
The Court of Appeal has affirmed that Hong Leong Bank was negligent in breaching a seizure order under anti-money laundering laws, resulting in the release of RM1.2 million paid by a company to the insolvency department 11 years ago.
The Court of Appeal also affirmed a finding by the High Court in Kuala Lumpur that the government could not be faulted for the bank’s mistake.
“The appeals by the bank and the company (Ten Jing Enterprise Sdn Bhd) are dismissed as they have no merit,” said Justice Ahmad Kamal…
