Preventive Measures for Reporting Institutions

All reporting institutions are required by law to undertake preventive measures to prevent their institutions from being used as a conduit for money laundering and terrorism financing activities.

The preventive measures include conducting risk assessment, application of customer due diligence, submission of suspicious transaction report (STR) and cash threshold report (CTR), maintenance and retention of records of transactions and implementation of AML/CFT compliance programme that is reflective of the reporting institutions’ money laundering and terrorism financing risk profile.

Who are the Reporting Institutions under the AMLA?

Sector Reporting Institution
Banking
  • Commercial and Islamic banks
  • International Islamic banks
  • Investment banks
  • Labuan conventional and Islamic banks
  • Labuan conventional and Islamic investment banks
Insurance
  • Life insurance companies
  • Family Takaful companies
  • Insurance broking companies
  • International Islamic Takaful operators
  • Labuan insurer and reinsurer
  • Labuan Takaful and Labuan re-Takaful
  • Takaful broking companies
Money Services Business
  • Money changers
  • Remittance service providers
  • Wholesale money changing operators
Electronic Money
  • Credit token business (Electronic Money) (Labuan)
  • Electronic money issuers
Capital Market
  • Derivatives brokers
  • Fund management companies
  • Labuan fund managers
  • Labuan listing sponsors
  • Labuan trading agents
  • Stock broking companies
  • Unit trust management companies
Development Financial Institutions
  • Agrobank
  • Bank Kerjasama Rakyat Malaysia Berhad
  • Bank Pembangunan Malaysia Berhad
  • Bank Perusahaan Kecil & Sederhana Malaysia Berhad (SME Bank)
  • Bank Simpanan Nasional
  • Export-Import Bank of Malaysia (EXIM Bank)
Other financial institutions
  • Borneo Housing Mortgage Finance Berhad
  • Leasing and factoring business
  • Lembaga Tabung Haji
  • Malaysia Building Society Berhad
  • Money lenders
  • Non-bank affiliated charge and credit card issuers
  • Pos Malaysia Berhad (for postal financial services)
  • Sabah Credit Corporation
Designated non-financial businesses
and professions (DNFBPs)
  • Accountants

    applicable to members who holds valid practising certificates issued pursuant to rule 9 of the Malaysian Institute of Accountants (Membership and Council) Rules 2001, when they prepare or carry out the following activities for their clients:

    1. buy and sell immovable property;
    2. manage client’s money, securities or other property;
    3. manage accounts including savings and securities accounts;
    4. organise contributions for the creation, operation or management of companies; or
    5. create, operate or manage legal entities or arrangements and buy and sell business entities.
  • Casino
  • Company secretaries

    applicable to persons prescribed by the Minister or licensed by the Registrar of Companies to act as a company secretary of a company pursuant to section 139A of the Companies Act 1965, when they, whether in person or through a firm or company, prepare or carry out the following activities for their clients:

    1. act as a formation agent of legal entities;
    2. act as (or arrange for another person to act as) a director or secretary of a company, a partner of a partnership, or a similar position in relation to other legal entities;
    3. provide a registered office, business address or accommodation, correspondence or administrative address for a company, a partnership, or any other legal entities or arrangement;
    4. act as (or arrange for another person to act as) a trustee of an expressed trust; or
    5. act as (or arrange for another person to act as) a trustee of an express trust; or
    6. act as (or arrange for another person to act as) a nominee shareholder for another person.
  • Dealers in precious metals and precious stones
  • Labuan trust companies
  • Lawyers

    applicable to advocates and solicitors as defined in the Legal Profession Act 1976 and persons admitted as advocates pursuant to the Advocate Ordinance Sabah 1953 and Advocate Ordinance Sarawak 1953, when they prepare or carry out the following activities for their clients:

    1. buy and sell immovable property;
    2. manage client’s money, securities or other property;
    3. manage accounts including savings and securities accounts;
    4. organise contributions for the creation, operation or management of the companies; or
    5. create, operate or manage legal entities or arrangements and buy and sell business entities.
  • Licensed gaming outlets
  • Notaries public
  • Pawnbrokers
  • Public trust company (Amanah Raya Berhad)
  • Registered estate agents
  • Trust Companies

    applicable to the Corporation as defined in the Public Trust Corporation Act 1995 and trust companies as defined in the Trust Companies Act 1949 when they carry out the following activities for their clients:

    1. act as (or arrange for another person to act as) a director or secretary of a company, a partner of a partnership or any similar position in relation to other entities;
    2. act as (or arrange for another person to act as) a trustee of an express trust; or
    3. act as (or arrange for another person to act as) a nominee shareholder for another person.