BNM's AML/CFT Newsletter 02/2022 - Anti Money Laundering / Countering Financing of Terrorism (AML/CFT)

Breadcrumb

Asset Publisher

null BNM's AML/CFT Newsletter 02/2022

*|MC_PREVIEW_TEXT|*

1. Publication of the Executive Summary of National Risk Assessment (NRA) 2020

The NRA 2020, is the fourth 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 July 2021, the NCC endorsed the results of the NRA 2020.

For all reporting institutions, as required under the AML/CFT and TFS for DNFBP and NBFIs Policy Document, 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 button below to access the NRA 2020 Executive Summary:

Click for the NRA 2020 Executive Summary

Or copy paste the URL address below to your internet browser:
https://amlcft.bnm.gov.my/publications

2. Publication of the Reference Note on the Requirements of BNM and SSM on Beneficial Ownership of Legal Persons

Company Secretaries as reporting institutions under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA) and officer of the corporation under the Companies Act 2016 (CA 2016), are required to comply with the beneficial ownership (BO) requirements implemented by BNM and SSM respectively to deter and prevent the misuse of legal persons for money laundering, terrorism financing or other crimes.

The Reference Note which is jointly developed by SSM and BNM based on SSM’s Guideline for the Reporting Framework for Beneficial Ownership of Legal Persons and BNM’s AML/CFT and TFS for DNFBP and NBFIs Policy Document. The Reference Note is aimed to provide greater clarity on the similarities and differences between the obligations of company secretaries on the requirements relating to BO of legal persons under both documents.

The Reference Note also provides an illustrative outline of the requirements imposed on company secretaries under both frameworks which complement one another in strengthening the transparency of BO of legal persons in Malaysia.

Please click on the button below for the Reference Note on Requirements of BNM and SSM on Beneficial Ownership of Legal Persons:

Click for the Reference Note

Or copy paste the URL address below to your internet browser:

https://amlcft.bnm.gov.my/web/amlcft/circulars-technical-notes#3

Please see press release by SSM as linked:

https://www.ssm.com.my/Pages/Publication/Press_Release/Press-Release.aspx

3. Launching of the New BNM's AML/CFT microsite

The new AML/CFT microsite has recently came live. It continues to serve as a gateway for reporting institutions (RI) under the AMLA and public to obtain updated information in relation to money laundering and terrorism financing (ML/TF) risks RI’s AML/CFT obligations under the law and other related development.

It also serves as platform for BNM to publish important circulars and resources beyond those published on the BNM’s main website. New features of the microsite include :

new content structured to mirror Malaysia’s AML/CFT framework for ease-of-use;
improved navigation, incorporating interactive elements;
mobile first – optimised and responsive to varying screen sizes
minimalist design;
user-centric to facilitate greater understanding for the user;
Search functions in assisting quick find of areas of interest; and
‘Contact us’ function as an alternative method in contacting BNM on specific issues.

Please click on the image for the new BNM’s AML/CFT microsite.

Or copy paste the URL address below to your internet browser:
https://amlcft.bnm.gov.my

Other Updates

Notification on Appointment of Compliance Officer

For RIs that have yet to notify BNM on the appointment of, or changes to, the appointed Compliance Officer (CO), please click on the link below for the notification. The e-form is preferred as the process could be fully automated in dispensing the CO reference number.

Click for Notification Form

Or copy paste the URL address below to your internet browser:
https://amlcft.bnm.gov.my/co/

Access to BNM's AML/CFT E-Platform

The private E-Platform hosts a repository of awareness video materials including all the AML/CFT Webinar series for the DNBP and NBFI sectors.

For RIs that have yet to register for access to the E-Platform, do so by clicking on the button below:

Click for E-Platform Registration

Or copy paste the URL address below to your internet browser:
https://amlcft.bnm.gov.my/ep/

Note:

CO who is requesting access to the webinar videos must be a registered YouTube account user.
Only CO who has notified their appointment to BNM will be able to view the videos.
Notification with the videos link will be automatically sent to the registered YouTube account.