BNM deputy governor cites two enforcement actions in DNFBP compliance address
A Bank Negara Malaysia deputy governor's welcoming remarks to the 2026 DNFBP Compliance Conference set out the central bank's current thinking on gatekeeper risk, citing recent enforcement cases and a 2027 national risk assessment. Compliance officers at law firms, company secretarial providers and other designated non-financial businesses should note the regulator's specific examples.
- Bank Negara Malaysia and the Companies Commission of Malaysia took enforcement action against a company secretary for failing to submit suspicious transaction reports relating to foreign nationals suspected of involvement in an international scam syndicate.
- A Labuan investment bank was subject to joint enforcement action by Bank Negara Malaysia and the Labuan Financial Services Authority over material deficiencies in customer due diligence and delays in submitting suspicious transaction reports.
- A UNODC Transnational Organized Crime Threat Assessment for South-East Asia identifies lawyers and accountants among specialist facilitators operating on a contractual basis for criminal networks.
- Bank Negara Malaysia will undertake the next iteration of its National Risk Assessment in 2027 to deepen assessment of money laundering and terrorism financing risks facing DNFBP sectors.
- The speech marks 25 years since Malaysia's Anti-Money Laundering Act was enacted in 2001 and follows the recent conclusion of Malaysia's Mutual Evaluation.