Volume 20 No 12 (2022)
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N., Abu Bakar M., Mansoor, N., Abd Hamid, H., Omar, S.M., Abdullah, S.S., Sulaiman , N., Abd Raof, H., Mansor
As the primary statute for land law in West Malaysia, the National Land Code 1965 (NLC) contains substantive and also procedural laws in perfecting the registration of title or interest. The NLC provides a safeguard against any fraudulent activities by imposing an attestation procedure for any execution done by the parties in land transactions. Neglecting the security, the authenticity of documents and verification of parties in the property transaction may provide a gateway for a fraudster to penetrate the property transaction and gain an illegal advantage. In furtherance of these duties, solicitors are under an obligation to verify the sources of money in land transactions, in particular, cash transactions and report to the authorities of any suspicious transactions. In dealing with this problem, the Anti-Money Laundering and Terrorism Financing Act 2001 (Act 613) imposes a duty on solicitors to report any suspicious transactions to the authorities. This paper aims to review the extent of the duty imposed on solicitors to ensure that the registration of title or interest is secured and simultaneously complying with the reporting requirement under the law to avoid the risk of money laundering activities.
Dealings instruments, security, authenticity, registration of title, suspicious transactions
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