Paragraph 17 of the Policy Document deals with higher risk countries that are called for by the FATF or by the Government of Malaysia as well as other jurisdictions that have strategic AML/CFT deficiencies for which they have developed an action plan with the FATF.

This includes conducting enhanced CDD and applying effective countermeasures, when required.

For further details on dealing with customers from higher risk countries, please see Appendix B.

Reporting institutions should refer to the FATF website for the latest list of higher risk countries or the latest circular issued by Bank Negara Malaysia and any change in that requirements at: https://amlcft.bnm.gov.my.

Bank Negara Malaysia will publish any higher risk countries that have been officially specified by the Government of Malaysia, by way of circular.

Such specification has yet to be made at the date of the publication of this FAQ.

Reporting institutions are not refrained from dealing with customers originating from countries that are subjected to a call for action by the FATF. Clients from such countries are subjected to more stringent CDD requirements as stipulated under the Policy Document.