Bank Negara Malaysia issues FAQs and Guidance on anti-money laundering, countering financing of terrorism and targeted financial sanctions

29 September 2020

On 1 September 2020, Bank Negara Malaysia issued FAQs and Guidance documents to provide further clarification for designated non-financial businesses and professions (“DNFBPs”), non-bank financial institutions (“NBFIs”) and financial institutions on the requirements set out in the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions (“AML, CFT and TFS”) Policy Document. That Policy Document was issued on 31 December 2019 and came into force on 1 January 2020. The FAQs and Guidance documents clarify matters such as the applicability of the AML, CFT and TFS requirements, definitions of terminologies used, the different methodologies to conduct risk assessments and illustrations and examples.

Reference materials

The FAQs and Guidance are available on the BNM website www.bnm.gov.my or by clicking the links below: