Judge Hasbullah Adam passed sentence on Mohamed Jiyaulhak Anvar Batcha, 36, after the father of three pleaded guilty to the charge.
He was charged with operating an unlicensed remittance business through a sole proprietorship company, Anver Cahaya Enterprise, at Jalan Raja Muda Abdul Aziz here between Dec 18 2018 and Feb 12 this year.
The charge, under Section 4(1) of the Money Services Business Act 2011, provides a maximum fine of RM5 million or imprisonment for up to 10 years or both, upon conviction.
Earlier, Bank Negara Malaysia Deputy Public Prosecutor Nigel William Kraal asked the court to impose an appropriate sentence as the accused had committed a serious offence.
“The offence was committed intentionally by the accused, apart from taking into account the public’s interest.
“Cases involving the outflow of money abroad should not be taken lightly as Bank Negara Malaysia has trouble monitoring this problem,” he said.
In mitigation, Mohamed Jiyaulhak, unrepresented, said he was the family’s sole breadwinner.
“I have three children who are still schooling and this is my first offence. I also have a wife who is not working,” he said.