For Reporting Institutions
AML/CFT obligations imposed on Reporting institutions are stipulated under Part IV of the AMLA and provided in the AML/CFT Policies. The obligations include the requirement to:
- implement AML/CFT risk management that commensurate with the level of money laundering and terrorism financing risks;
- conduct customer due diligence;
- keep proper record on the customer and transactions;
- implement AML/CFT compliance programme;
- report suspicious transaction report (STR); and
- report cash threshold report (CTR) for cash transaction exceeding RM50,000 or whichever amount specified.