BNM's AML/CFT Newsletter #15: Circular on CDD Requirements on GLCs, SOCs and RPs and Statement on High Risk Jurisidictions

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Issue #15

Dear Sir/Madam,

Please find below the latest updates on regulatory or supervisory developments pertaining to AML/CFT matters.

What's New ?

1	Issuance of Circular on Regulatory Expectation on Customer Due Diligence (CDD) Requirements on Government-Linked Companies, State-Owned Companies and Registered Persons

BNM has issued a circular on 22 December 2020 to all Reporting Institutions (RIs) under the AMLA regarding extension of timeline to conduct standard CDD requirements on existing customers that are Government-Linked Companies, State-Owned Companies and Registered Persons to 30 June 2021, from the initial timeline of 1 January 2021 as provided under paragraph 5.3 of the revised AML/CFT and TFS policy document for DNFBPs and NBFIs.This is taking into cognisance of the challenges in implementing normal operations due to Covid-19.

For more information, please click on “Circular on Regulatory Expectation”.
Alternatively, you may copy and paste this link into your browser :
http://amlcft.bnm.gov.my/document/AML_CFT_Regulatory_expectation_CDD_
requirement_on_GLC_SOC_and_RP.pdf

Circular on Regulatory Expectation

2	Statement on High-risk and Other Monitored Jurisdictions by the Financial Action Task Force (FATF)

BNM has issued a notice to inform the RIs of the recent statements issued by the FATF on 23 October 2020 and 18 December 2020 regarding the High-Risk Jurisdictions subject to a Call for Action and Jurisdictions under Increased Monitoring and measures to be undertaken by RIs for business relationships with clients originating from countries named.

For more information, please click on “Statement on High-risk Jurisdictions”. Alternatively, you may copy and paste this link into your browser:
http://amlcft.bnm.gov.my/document/Notice_FATF_Statement_Dec_2020.pdf

Statement on High-risk Jurisdictions

Other Updates :

Has your firm appointed a Compliance Officer ?
For reporting institution that has yet to appoint a Compliance Officer (CO), you may download the CO Nomination Form from the AML/CFT Microsite or click on 'CO Nomination Form'.

Alternatively, you may copy and paste this link into your browser :
http://amlcft.bnm.gov.my/document/DNFBP/form/PD_DNFBP_FINAL_INFOGRAPHIC_APPENDIX%203.pdf

Survey questions to assess the effectiveness of AML/CFT awareness programmes
BNM would like to invite the RIs to participate in a survey to provide your opinion on the overall effectiveness of our AML/CFT awareness programmes. The survey will be opened until 8 January 2021. You may access the survey at 'Survey on the effectiveness of AML/CFT awareness programmes'.

Alternatively, you may copy and paste this link into your browser :
https://forms.office.com/Pages/ResponsePage.aspx?id=zQDHqiHHUUaY3beFRMlP1nfQxFtPAOhDoJ-YCv8NnZ
5UNVFZSjlBR1JXOVdSVExaQlBBQVhMOERSQSQlQCN0PWcu<

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