Anti-money laundering and counter financing of terrorism regulation of banking institution in Malaysia

• 第一著者: Mohd. Yasin , Norhashimah
• フォーマット: 論文
• 言語: English
• 出版事項: INSI Publications 2012
• 主題: HG1501 Banking; K Law (General)
• オンライン･アクセス: http://irep.iium.edu.my/26914/1/Anti-Money_Laundering_and_Counter_Financing_of_Terrorism_Regulation_of_Banking.pdf; http://irep.iium.edu.my/26914/; http://www.ajbasweb.com/ajbas_Special%20issue_2012.html

The Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA) is the sole legislation dealing with this matter in Malaysia. Part 4 of this Act is the basic regulation for ‘reporting institutions’, including all types of bank. As Part 4 is only general, the Malaysian Central Bank as the ‘Competent Authority’ has issued detailed Guidelines. All ‘reporting institutions, banks included, must follow the Standard Guidelines (UPW/GP1). There are ten Sectoral Guidelines UPW/GP1[1] is for banks. Failure to follow the Act and the associated Guidelines could result in severe legal consequences.