iServe Online Mall Raided Including Seizure of RM118 Million Under AMLA Offence

BNM officers raided iServe Online Mall for offences committed under the Financial Service Act and Anti-Money laundering, Anti-terrorism financing and Proceeds from unlawful activity Act.

The online e-commerce site is part of iServe group which is involved in various technology businesses, it describes itself as an MSC company with a regional presence with offices in ASEAN countries. It claims to operate one of the biggest online shopping mall, e-commerce & mobile applications development in the country. Including business in fashion, cosmetic and retail industry. iServe started out in 2001 by providing Smart Card solutions and software development, before progressing to create kiosks for big names such as Eastman Kodak, Nokia, as well as AirAsia.

The raid also included the freeze of its financial accounts and seizure of more than RM118 million.

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