Data and Compliance Report: Key Info [Issue 4 of 4]
Firms not involved in gazetted activities during the reporting period must declare their status through the DNFBP portal, selecting the “Declaration of Non-Applicability” option. This applies to dormant firms, newly established entities, or firms winding down operations. A firm that does not submit a DCR nor declare its non-applicable status could face regulatory scrutiny, as non-compliance with the DCR requirement carries enforcement actions.
Conclusion
For RIs, the DCR represents more than a compliance requirement; it is a roadmap to understanding and enhancing AML/CFT protocols within the business. As BNM continues to advance its supervisory framework, timely and accurate DCR submissions help firms mitigate financial crime risks and support Malaysia’s broader financial security goals. By approaching DCR submission with a structured compliance strategy and technology-assisted solutions, firms can not only meet regulatory obligations but also strengthen their internal controls and reputational integrity in the marketplace.
