BNM as Competent Authority

As the Competent Authority under the AMLA, Bank Negara Malaysia may:

• Make recommendation to invoke any reporting obligation under the AMLA on any reporting institution;
• Receive, analyse and disclose of Suspicious Transaction Report (STR) and Cash Threshold Report (CTR);
• Give instructions to reporting institutions relating to any report or information received;
• Make recommendations to the relevant supervisory authority, enforcement agency and reporting institutions arising from any report or information received;
• Create training requirements and provide training for any reporting institutions in respect of the reporting institutions’ obligations under Part IV of the AMLA; and
• Compile statistics and records

Key AML/CFT Functions

Bank Negara Malaysia plays important functions in Malaysia’s AML/CFT regime covering areas such as financial intelligence, investigation and enforcement of laws under the purview of Bank Negara Malaysia as well as supervision of reporting institutions.