Guidelines Relating to the Obligations of Company Secretary as a Reporting Institution Under the Anti-money Laundering, Anti-terrorism Financing and Proceeds of Unlawful Activities Act 2001 (amla)
INTRODUCTION
In Malaysia’s dynamic financial regulatory landscape, stringent anti-money laundering and counter-financing of terrorism (AML/CFT) measures under Act 613 signify a steadfast commitment. The enhanced collaboration between the Commission of Malaysia (SSM) and Central Bank of Malaysia (BNM), solidified on August 22, 2022, targets to strengthen collaboration in the regulation & supervision of AML/CFT and targeted financial sanctions (TFS) on company secretaries and trust companies in Malaysia. This strategic partnership positions Malaysia as a regional leader in proactive efforts to prevent financial malpractices within the ASEAN region.
Bank Negara Malaysia’s Policy Document
Objectives
Objectives of the SSM’s Guidelines –
- To set out the requirements and obligations imposed on company secretaries under the AMLA in preventing and combating money laundering and terrorism financing; and
- To assist company secretaries in understanding the roles and responsibilities of company secretaries as Reporting Institutions in implementing a comprehensive risk-based approach in managing ML/TF risks.
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