News and Articles

One of the measures to curb money laundering in Malaysia’s financial system is for reporting institutions have an effective Anti-Money Laundering (AML) program in place as a preventive measure. Such preventive measures include having effective Anti-Money Laundering policies and procedures,...

Simply speaking, a Politically Exposed Person (PEP) is an individual who holds a high-profile political role. Due to their position, a PEP is said to be someone more likely to be involved in bribery or corruption (which are predicate offences...

In Malaysia, some non-financial businesses and professions like lawyers, accountants, and company secretaries are required to comply with the Anti-Money Laundering/Countering Financing of Terrorism (AML/CFT) regulations imposed.

What is Money Laundering? According to the Financial Action Task Force (FATF), money laundering is the processing of criminal proceeds to disguise their illegal origin. In other words, it is a technique used by criminals to “clean” the illegally obtained money...

Since the implementation of the Companies Registry’s (CR) Guideline on Compliance of Anti-Money Laundering and Counter-Terrorist Financing Requirements for Trust or Company Service Providers (TCSPs) in March 2018, it is a requirement for TCSPs to take all reasonable measures to mitigate the...

On 31 Dec 2019, the Malaysia’s Bank Negara (BNM) has issued a new guideline on Anti-Money Laundering, Countering Financing of Terrorist (AML/CFT) and Targeted Financial Sanctions for Designated Non-Financials Businesses and Professions (DNFBPs) and Non-Bank Financial Institutions (NBFIs) ( i.e....