Reporting institutions are encouraged to develop internal references or database in identifying family members or close associates of PEPs. Alternatively, reporting institutions may also refer to public or commercial databases and supplement this with a customer’s self-declaration.

Bank Negara Malaysia does not maintain a central database on PEPs, family members and close associates of PEPs.

The identification of close associates should be on a best effort basis, based on information obtained and available to the reporting institutions and subject to the risk assessment of the reporting institution.

In the case of personal relationships, this can be deduced based on the social, economic and cultural context which can determine the closeness of the relationship.