Malaysia regulates AML/CTF through Bank Negara Malaysia under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. See the obligations and how MemberCheck supports them.
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Malaysia regulates AML/CTF through Bank Negara Malaysia (BNM), the competent authority under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA). BNM sets AML/CTF policy, supervises reporting institutions for compliance, and acts as the financial intelligence unit, receiving and analysing Suspicious Transaction Reports. The Securities Commission Malaysia and Labuan Financial Services Authority are the supervisory authorities for the capital market and the Labuan International Business and Financial Centre respectively.
The AMLA sets a clear series of duties. Institutions must carry out customer due diligence and verify beneficial owners, conduct ongoing due diligence on accounts and relationships, and keep records for at least six years. They must report cash transactions above RM 25,000, file Suspicious Transaction Reports for suspected money laundering or terrorism financing, and maintain internal programmes, management-level compliance officers, and independent audit functions.
MemberCheck helps teams meet these obligations by screening customers and entities against global sanctions, PEP, and adverse-media data, verifying identities, and monitoring risk continuously, with a clear audit trail behind every decision.
The competent authority under the AMLA. BNM sets policy, supervises reporting institutions for AML/CTF compliance, and acts as the financial intelligence unit, receiving and analysing Suspicious Transaction Reports. The Securities Commission Malaysia and Labuan Financial Services Authority supervise their own sectors.
Malaysia's principal AML statute, which sets customer due diligence, record-keeping, reporting, and internal programme duties for reporting institutions.
The AMLA requires institutions to run CDD and ongoing due diligence, keep records for at least six years, and designate management-level compliance officers.
Bank Negara Malaysia (BNM) is the competent authority under the AMLA and holds both roles, since it supervises reporting institutions for AML/CTF compliance and acts as the financial intelligence unit, receiving and analysing Suspicious Transaction Reports. Two other supervisory authorities cover their own sectors, the Securities Commission Malaysia for capital market intermediaries and Labuan Financial Services Authority for entities in the Labuan International Business and Financial Centre.
The Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA) is Malaysia's principal statute, setting due diligence, reporting, and record-keeping duties.
Malaysia is a member of the Asia/Pacific Group on Money Laundering, a FATF-style regional body, and applies FATF standards through that membership.
MemberCheck screens customers and entities against global sanctions, PEP, and adverse-media data, verifies identities, and monitors risk continuously, with an audit trail behind every decision.
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