Refer below for Bank Negara Malaysia’s newsletter 4/2024, dated 29/11/2024.
1.Publication of the Executive Summary of
National Risk Assessment (NRA) 2023
The NRA 2023 is the fifth iteration of a centralised assessment to identify and assess Malaysia’s exposure to money laundering and terrorism financing (ML/TF) risks. It is conducted under the ambit of the National Coordination Committee to Combat Money Laundering (NCC) in accordance with the international best practices and recommendations set out by the Financial Action Task Force (FATF). In August 2024, the NCC endorsed the results of the NRA 2023.
As required under the AML/CFT/CPF and TFS for DNFBP and NBFIs Policy Document, all reporting institutions shall be guided by the results of the NRA issued by the NCC in conducting their own risk assessments and take enhanced measures to manage and mitigate the risk identified in the NRA (paragraph 10.2.4).
Please click on the image or button below to access the NRA 2023 Executive Summary:
2.Publication of the Asia/Pacific Group on Money Laundering
(APG) Typologies Report
The APG publishes regional typologies reports on an annual basis to assist stakeholders to better understand the nature of existing and emerging money laundering (ML), terrorism financing (TF), proliferation financing (PF) risks and pursue effective strategies in response. Each year APG members and observers provide case studies, observations on trends, research, information on regulatory enforcement action, and examples of international cooperation.
The 2024 APG Typologies Report includes information provided by 18 APG members, 11 APG observer organisations and four non-observer organisations and includes 138 case studies. In addition to the typologies provided, the report includes a focus chapter on threats and trends related to the misuse of legal persons.
The 2024 APG Typologies Report also includes information on asset recovery and challenges involved in effective recovery of proceeds of crime (both domestic and foreign), and a section on related work undertaken by APG’s observer organisations and research centers.
The report was adopted at the 2024 Typologies Workshop held in Kuala Lumpur, Malaysia, from 11-13 November 2024. Several APG members presented case studies they had contributed to the report, and these were discussed by attendees.
Please click on the image or button below to access the 2024 APG Typologies Report:
As it has been more than a month since the issuance of the Data and Compliance Report (DCR) 2024 on 15 October 2024, we are pleased to share updates on additional information to assist you with your DCR 2024 submission.
Please note that the DCR 2024 is sector-specific, and only the following sectors are required to submit their data:
1. Accountants
2. Company secretaries
3. Dealers in precious metals/ stones
4. Lawyers and notaries public
5. Registered estate agents
* Other sectors are NOT required to submit DCR 2024
DCR Offline Form
The offline versions of the DCR forms for each sector is available in the portal. Please be reminded that the submission of DCR 2024 is only via the DNFBP Portal and we do not accept submission which is made using the PDF forms. We hope that these offline forms will be beneficial in preparing for your DCR 2024 submission. The PDF forms can be accessed via this link : Question PDF Version 2024 DNFBP Portal
DCR Clinics
In the efforts of assisting reporting institutions, BNM in collaboration with Industry Association is organizing DCR clinics. These clinics are designed to support reporting institutions in the submission process, providing an opportunity to address any challenges or queries that may arise. While we have completed several clinics, there are also upcoming clinics to be held soon.
Below are the details of the DCR Clinics:
No
Sector
Organized By
Date
1
Accountants
Malaysian Institute of Accountants (MIA)
5 December 2024
2
Lawyers
Bar Council (BC)
5 December 2024
3
Company Secretaries
Suruhanjaya Syarikat Malysia (SSM)
11 November 2024
4
Dealers in Precious Metals and Stones
Malaysia Indian Goldsmith Jewellers Association (MIGJA) & Federation of Goldsmiths and Jewellers Association of Malaysia (FGJAM)
12 December 2024
We also wish to remind that the closing date for submission is nearing, please ensure that you submit DCR (or declare non-applicability of DCR) by 15 January 2025. We also wish to reiterate that non-submission of DCR could result in enforcement action to be taken.
Thank you for your attention to this matter, and we look forward to supporting you in the successful submission of your DCR 2024.
· Bank Negara Malaysia ·
· Financial Intelligence and Enforcement Department · Jalan Dato' Onn · Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur 50480 · Malaysia ·
