(AMLA - Issue 2)
In this newsletter, we explore the essential aspects of Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) compliance specifically tailored for company secretaries in Malaysia. The content delves into the applicability of these regulations, targeting individuals and firms involved in activities outlined in para 13 of the First Schedule of AMLA and para 3.3(i) in the BNM Policy Document.
Applicability
- Applicable to all company secretaries, who whether in person or through a firm or company preparing or carry out the activities as listed in para 13 in the First Schedule of AMLA and para 3.3(i) in the BNM Policy Document
AML/CFT Requirement
| AML/CFT Requirements | BNM Policy | SSM Guidelines |
|---|---|---|
| Application of Risk-Based Approach | √ | √ |
| AML/CFT Compliance Programme | √ | √ |
| New Products and Business Practices | √ | √ |
| Customer Due Diligence (CDD) | √ | √ |
| Politically Exposed Persons (PEPs) | √ | √ |
| Reliance on Third Parties | √ | √ |
| Higher Risk Countries | √ | √ |
| Cash Threshold Report | √ | √ |
| Suspicious Transaction | √ | √ |
| Record Keeping | √ | √ |
| Management Information System | √ | √ |
| Targeted Financial Sanctions on TF, PF and other UN-Sanctions Regimes | √ | √ |
| Other Reporting Obligations | √ | √ |
Stay tune for the upcoming newsletter, we will share with you more on Guidelines Relating To The Obligations Of Company Secretary As A Reporting Institution Under AMLA
