The NAFCC, which was tabled for the first reading by Minister in the Prime Minister's Department Datuk Liew Vui Keong, will also be responsible for managing a centralised data system for financial crimes."It has no investigation powers. The centre will not diminish, abolish or eliminate the functions or powers of any existing enforcement agencies," he said in a press conference after tabling the Bill on Tuesday .
He said the NAFCC coordination will cover investigations into financial crimes committed locally and abroad. The appointments will be for a period not exceeding three years with eligibility for reappointment upon the expiry of their term. The NAFCC's powers to organise integrated operations comes into play when investigations into financial crimes involves not less than two enforcement agencies.
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