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AML/CFT Requirements

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Preventive measures for reporting institutions

Are you a Reporting Institution?

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 or terrorism financing activities including:

  • carrying out risk assessments;
  • conducting customer due diligence;
  • submitting suspicious transaction report and cash threshold report (where relevant);
  • maintaining and retaining records of transactions; and
  • implementing anti-money laundering and countering financing of terrorism (AML/CFT) compliance programme that is reflective of the reporting institution’s money laundering and terrorism financing risk exposure and its size, nature and complexity.

Are you a Reporting Institution?

Are you a Reporting Institution?

There are many reporting institutions, both in the financial and non-financial sectors. Provided below is a summary listing of the more common reporting institutions you may encounter.

 

If you are unsure and would like to find out if you or your institution are likely a reporting institution, answer some questions about your institution and the products/services you offer using the tool below.

Note: Your answers will not be recorded and no personal data will be collected by using this tool. This tool is provided for guidance only and is not legal advice. For list of reporting institutions, please refer to the First Schedule of AMLA.​​​​​​

Form

Questionnaires

  1. 1
  2. 2
  3. 3
  4. 4
  5. 4a
  6. 4b
  7. 5
  8. 5a
  9. 5b
  10. untitled-page

1

Question 1

Do any of the following apply to you or your institution?

  • Your institution is a licensed bank, investment bank, Islamic bank or international Islamic bank
  • Your institution is an approved financial adviser or insurance broker in relation to life business
  • Your institution is a licensed takaful operator or international takaful operator carrying on family takaful business
  • Your institution is an approved money-broker, issuer of designated payment instrument or issuer of designated Islamic payment instrument
  • Your institution is an approved Islamic financial adviser or takaful broker in relation to family takaful business
  • Your institution is a development financial institution
  • You are licensed to deal in securities or derivatives, or carry out fund management activities
  • Your institution is a Labuan financial institution
Question 1

Do any of the following apply to you or your institution?

  • Your institution is a licensed bank, investment bank, Islamic bank or international Islamic bank
  • Your institution is an approved financial adviser or insurance broker in relation to life business
  • Your institution is a licensed takaful operator or international takaful operator carrying on family takaful business
  • Your institution is an approved money-broker, issuer of designated payment instrument or issuer of designated Islamic payment instrument
  • Your institution is an approved Islamic financial adviser or takaful broker in relation to family takaful business
  • Your institution is a development financial institution
  • You are licensed to deal in securities or derivatives, or carry out fund management activities
  • Your institution is a Labuan financial institution
Choose your answer
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Question 2

Do any of the following apply to your business or organisation?

  • You are a licensed money services business and engaged in money-changing, remittance or wholesale currency business
  • You are a trust company carrying out trust businesses
  • You are a licensed moneylender
  • You are a licensed pawnbroker
  • You are an estate agent registered with the Board of Valuers, Appraisers and Estate Agents
  • You or your business is dealing in precious metals or precious stones
  • You provide digital currency exchange services
Question 2

Do any of the following apply to your business or organisation?

  • You are a licensed money services business and engaged in money-changing, remittance or wholesale currency business
  • You are a trust company carrying out trust businesses
  • You are a licensed moneylender
  • You are a licensed pawnbroker
  • You are an estate agent registered with the Board of Valuers, Appraisers and Estate Agents
  • You or your business is dealing in precious metals or precious stones
  • You provide digital currency exchange services
Choose your answer
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Question 3

Do you offer gambling services and licensed, such as:

  • Betting services
  • Operating a licensed casino
  • Racing club e.g., horse racing club
Question 3

Do you offer gambling services and licensed, such as:

  • Betting services
  • Operating a licensed casino
  • Racing club e.g., horse racing club
Choose your answer
Choose your answer null
Question 4

Are you an accounting or legal practitioner, for example:

  • An advocate and solicitor holding Sijil Annual and Practicing Certificate issued by the Malaysian Bar
  • A member of the Sabah Law Society who has been admitted as an advocate in Sabah
  • A member of the Advocates Association of Sarawak who has been admitted as an advocate in Sarawak
  • A member of the Malaysian Institute of Accountants (MIA) who holds a valid practising certificate issued by MIA
Question 4

Are you an accounting or legal practitioner, for example:

  • An advocate and solicitor holding Sijil Annual and Practicing Certificate issued by the Malaysian Bar
  • A member of the Sabah Law Society who has been admitted as an advocate in Sabah
  • A member of the Advocates Association of Sarawak who has been admitted as an advocate in Sarawak
  • A member of the Malaysian Institute of Accountants (MIA) who holds a valid practising certificate issued by MIA
Choose your answer
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Question 4a

Are you employed as an in-house accountant or in-house lawyer for your business or organisation i.e. you do not provide your services to external clients?

Question 4a

Are you employed as an in-house accountant or in-house lawyer for your business or organisation i.e. you do not provide your services to external clients?

Choose your answer
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Question 4b

Do you prepare or carry out any of the following activities for your clients:

GA 1 - Buy and sell immovable property

Examples of services:
    • Advisory services related to buying and selling of immovable property 
    • Preparation of legal documents to facilitate buying and selling of immovable property

GA 2 - Manage clients’s money, securities or other property

Examples of services:
    • Hold client monies in a separate account (client/escrow account) and use the monies according to the client’s instructions, e.g. holding of earnest deposit in firm’s client account as stakeholder funds pending completion of property acquisition 
    • Administer and manage client assets in a separate account (client/escrow account), e.g. in relation to lawyer’s role as a trustee for the administration of client’s assets

GA 3 - Manage accounts including savings & securities accounts

Examples of services:
    • Actual managing of client’s accounts, e.g. acting as authorised signatory on behalf of client to facilitate funds transfer/salary payment from client’s bank account to third party/employees

GA 4 - Organise contributions for creation, operation or management of companies

Examples of services:
    • Advisory services related to capital contribution or funding / financing arrangement of companies, e.g. initial public offerings (IPOs) or issuance of bonds
    • Preparation of agreement related to funding / financing arrangement, e.g. IPOs or issuance of bonds

GA 5 - Create, operate or manage legal entities or arrangements and buy and sell business entities

Examples of services:
    • Formation or setting up of companies / entities, including the related advisory services
    • Formation or setting up of trust arrangement, including the related advisory services and preparation of trust deed 
    • Provision of nominee director / shareholder services
    • Takeover, mergers and acquisition arrangement, including the related advisory services and preparation of Share Sale Agreement  
    • Insolvency / receiver-managers / bankruptcy, including the related advisory services​​​​​​​​​​​​​​​​​​​​​
Question 4b

Do you prepare or carry out any of the following activities for your clients:

GA 1 - Buy and sell immovable property

Examples of services:
    • Advisory services related to buying and selling of immovable property 
    • Preparation of legal documents to facilitate buying and selling of immovable property

GA 2 - Manage clients’s money, securities or other property

Examples of services:
    • Hold client monies in a separate account (client/escrow account) and use the monies according to the client’s instructions, e.g. holding of earnest deposit in firm’s client account as stakeholder funds pending completion of property acquisition 
    • Administer and manage client assets in a separate account (client/escrow account), e.g. in relation to lawyer’s role as a trustee for the administration of client’s assets

GA 3 - Manage accounts including savings & securities accounts

Examples of services:
    • Actual managing of client’s accounts, e.g. acting as authorised signatory on behalf of client to facilitate funds transfer/salary payment from client’s bank account to third party/employees

GA 4 - Organise contributions for creation, operation or management of companies

Examples of services:
    • Advisory services related to capital contribution or funding / financing arrangement of companies, e.g. initial public offerings (IPOs) or issuance of bonds
    • Preparation of agreement related to funding / financing arrangement, e.g. IPOs or issuance of bonds

GA 5 - Create, operate or manage legal entities or arrangements and buy and sell business entities

Examples of services:
    • Formation or setting up of companies / entities, including the related advisory services
    • Formation or setting up of trust arrangement, including the related advisory services and preparation of trust deed 
    • Provision of nominee director / shareholder services
    • Takeover, mergers and acquisition arrangement, including the related advisory services and preparation of Share Sale Agreement  
    • Insolvency / receiver-managers / bankruptcy, including the related advisory services​​​​​​​​​​​​​​​​​​​​​
Choose your answer
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Question 5

Are you a company secretary holding valid practising certificate issued by Suruhanjaya Syarikat Malaysia?

Question 5

Are you a company secretary holding valid practising certificate issued by Suruhanjaya Syarikat Malaysia?

Choose your answer
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Question 5a

Are you employed as an in-house company secretary for your business or organisation i.e. you do not provide your services to external clients?

Question 5a

Are you employed as an in-house company secretary for your business or organisation i.e. you do not provide your services to external clients?

Choose your answer
Choose your answer null
Question 5b

Do you prepare or carry out any of the following activities for your clients:

GA 1 - Act as a formation agent of legal entities

Examples of services:
    • Register new companies with CCM

GA 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

Examples of services:
    • Register new companies with CCM
    • Company secretarial services, including acting as director and the related advisory services 
    • Maintain statutory registers such as register of directors, register of members
    • Administration of company related matters, e.g. file updates with CCM on changes of company name or address, issue of shares, changes in directors, shareholders, filing annual returns, making amendments to company constitution, drafting resolutions, organizing the company’s board meetings and annual general meeting and prepare agendas and minutes, etc.

GA 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

Examples of services:
    • Provide or maintain a registered address for companies

GA 4 - Act as (or arrange for another person to act as) a trustee of an express trust

Examples of services:
    • Provision of trustee services, including advisory, administration and management of trust funds

GA 5 - Act as (or arrange for another person to act as) a nominee shareholder for another person

Examples of services:
  • Provision of nominee services and the related advisory services​​​​​​​
Question 5b

Do you prepare or carry out any of the following activities for your clients:

GA 1 - Act as a formation agent of legal entities

Examples of services:
    • Register new companies with CCM

GA 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

Examples of services:
    • Register new companies with CCM
    • Company secretarial services, including acting as director and the related advisory services 
    • Maintain statutory registers such as register of directors, register of members
    • Administration of company related matters, e.g. file updates with CCM on changes of company name or address, issue of shares, changes in directors, shareholders, filing annual returns, making amendments to company constitution, drafting resolutions, organizing the company’s board meetings and annual general meeting and prepare agendas and minutes, etc.

GA 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

Examples of services:
    • Provide or maintain a registered address for companies

GA 4 - Act as (or arrange for another person to act as) a trustee of an express trust

Examples of services:
    • Provision of trustee services, including advisory, administration and management of trust funds

GA 5 - Act as (or arrange for another person to act as) a nominee shareholder for another person

Examples of services:
  • Provision of nominee services and the related advisory services​​​​​​​
Choose your answer
Choose your answer null
Result:

You are likely to be a reporting institution under the AMLA

Result:

You are likely to be a reporting institution under the AMLA

Result:

You are likely to be a reporting institution under the AMLA

Result:

You are likely to be a reporting institution under the AMLA

Result:

You are likely to be a reporting institution under the AMLA

Result:

You are likely to be a reporting institution under the AMLA

Result:

You are likely to be a reporting institution under the AMLA

Result:

You are likely to be a reporting institution under the AMLA

Result:

You are likely to be a reporting institution under the AMLA

Result:

You are likely to be a reporting institution under the AMLA

Result (Not):

You are likely not a reporting institution under the AMLA

Result (Not):

You are likely not a reporting institution under the AMLA

Result:

You are likely not a reporting institution under the AMLA

Result:

You are likely not a reporting institution under the AMLA

Result (Unsure):

You will need to seek independent legal advice to ascertain if you are a reporting institution under the AMLA

Result (Unsure):

You will need to seek independent legal advice to ascertain if you are a reporting institution under the AMLA

Result:

You will need to seek independent legal advice to ascertain if you are a reporting institution under the AMLA

Result:

You will need to seek independent legal advice to ascertain if you are a reporting institution under the AMLA

Result:

You will need to seek independent legal advice to ascertain if you are a reporting institution under the AMLA

Result:

You will need to seek independent legal advice to ascertain if you are a reporting institution under the AMLA

Result:

You will need to seek independent legal advice to ascertain if you are a reporting institution under the AMLA

Result:

You will need to seek independent legal advice to ascertain if you are a reporting institution under the AMLA

Result:

You will need to seek independent legal advice to ascertain if you are a reporting institution under the AMLA

Result:

You will need to seek independent legal advice to ascertain if you are a reporting institution under the AMLA

Result:

You will need to seek independent legal advice to ascertain if you are a reporting institution under the AMLA

Result:

You will need to seek independent legal advice to ascertain if you are a reporting institution under the AMLA

Result:

You will need to seek independent legal advice to ascertain if you are a reporting institution under the AMLA

Result:

You will need to seek independent legal advice to ascertain if you are a reporting institution under the AMLA

Result:

You will need to seek independent legal advice to ascertain if you are a reporting institution under the AMLA

Result:

You will need to seek independent legal advice to ascertain if you are a reporting institution under the AMLA

Result:

You will need to seek independent legal advice to ascertain if you are a reporting institution under the AMLA

Result:

You will need to seek independent legal advice to ascertain if you are a reporting institution under the AMLA

Result:

You are likely not a reporting institution under the AMLA

Result:

You are likely not a reporting institution under the AMLA

Result:

You are likely not a reporting institution under the AMLA

Result:

You are likely not a reporting institution under the AMLA