Malaysia

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PREVENTIVE MEASURES The authorities should enhance existing outreach (a) so that there is a more detailed and systematic program of outreach to DNFBPs (particularly those DNFBPs which have not been subject to close supervision); and (b) to FIs generally. This program should be undertaken with the support of the SRBs and industry associations. 5 104 Anti-money laundering and counter-terrorist inancing measures in Malaysia - 2015 © FATF and APG 2015
6. SUPERVISION Key Findings Malaysia has a sound legal framework for supervision and supervisors have the required powers to regulate the RI population. Malaysia has well implemented market entry it and proper controls across FIs, though some gaps exist with market entry for certain DNFBPs, including casino management. 6 All regulators apply a risk-based approach to supervision. The substance of supervision has been transitioning from a more rules-based approach to truer risk-based approaches with comprehensive risk assessment inputs in the last two years. BNM is a strong, professional and well-resourced risk-based supervisor, and is demonstrating effective supervision of the banking sector and MSBs (MVTS and money changers), which carry the bulk of the ML/TF risks. SC takes a comparably sound approach in supervising and mitigating ML/TF risks in the securities sector. LFSA’s AML/CFT supervisory capability is improving in relation to the relatively small offshore sector, in part through its joint supervision with BNM of prudentially regulated FIs present in Labuan. The BNM FIED is taking a risk-based approach to DNFBP supervision with the casino a clear priority relecting the identiied risks. FIED requires additional resources to adequately supervise the balance of the sizable DNFBP population. Remedial actions and sanctions, including ines and the revocation of licenses have been imposed for violations of AML/CFT requirements. This has contributed to successes in improving a focus on risk mitigation and compliance by regulated entities, although this needs to be deepened across a range of sectors. Anti-money laundering and counter-terrorist inancing measures in Malaysia - 2015 © FATF and APG 2015 105
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Anti-money laundering and counter-t
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Contents EXECUTIVE SUMMARY ........
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Recommendation 20 - Reporting of su
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Executive Summary 1. This report pr
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EXECUTIVE SUMMARY Malaysia’s con
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C.2 Money laundering, coniscation a
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EXECUTIVE SUMMARY the last two year
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EXECUTIVE SUMMARY Relecting policy
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EXECUTIVE SUMMARY Effectiveness 3.
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EXECUTIVE SUMMARY Effectiveness cas
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EXECUTIVE SUMMARY Table 2: Complian
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EXECUTIVE SUMMARY Compliance with F
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EXECUTIVE SUMMARY Compliance with F
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Mutual Evaluation of Malaysia Prefa
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1. ML/TF RISKS AND CONTEXT 1 1.1. M
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ML/TF RISKS AND CONTEXT transparenc
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ML/TF RISKS AND CONTEXT Laundering
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2. NATIONAL AML/CTF POLICIES AND CO
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NATIONAL AML/CTF POLICIES AND COORD
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3. LEGAL SYSTEM AND OPERATIONAL ISS
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LEGAL SYSTEM AND OPERATIONAL ISSUES
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Page 55 and 56: LEGAL SYSTEM AND OPERATIONAL ISSUES
Page 77 and 78: 4.1 Background and Context TERRORIS
Page 79 and 80: TERRORIST FINANCING AND FINANCING O
Page 95 and 96: PREVENTIVE MEASURES 5.1 Background
Page 97 and 98: PREVENTIVE MEASURES R.17 - Relianc
Page 99 and 100: PREVENTIVE MEASURES 5.19. Dealers i
Page 101 and 102: PREVENTIVE MEASURES relationships u
Page 103 and 104: PREVENTIVE MEASURES 5.51. Attempted
Page 105: PREVENTIVE MEASURES 5.67. Implement
Page 109 and 110: SUPERVISION transparency to its ben
Page 111 and 112: SUPERVISION Table 6.3. DNFBP Superv
Page 113 and 114: SUPERVISION 6.26. During the period
Page 115 and 116: SUPERVISION Table 6.5. Fines issued
Page 117 and 118: SUPERVISION transaction monitoring
Page 119 and 120: SUPERVISION 6.51. MSBs relicensing
Page 121 and 122: 7. LEGAL PERSONS AND ARRANGEMENTS K
Page 123 and 124: LEGAL PERSONS AND ARRANGEMENTS 7.3
Page 125 and 126: LEGAL PERSONS AND ARRANGEMENTS it c
Page 127 and 128: LEGAL PERSONS AND ARRANGEMENTS Tabl
Page 129 and 130: LEGAL PERSONS AND ARRANGEMENTS Tabl
Page 131 and 132: 8. INTERNATIONAL COOPERATION Key Fi
Page 133 and 134: INTERNATIONAL COOPERATION instrumen
Page 135 and 136: INTERNATIONAL COOPERATION 8.15. AGC
Page 137 and 138: INTERNATIONAL COOPERATION 8.26. The
Page 139 and 140: INTERNATIONAL COOPERATION in recent
Page 141 and 142: INTERNATIONAL COOPERATION 8.56. Mal
Page 143 and 144: TECHNICAL COMPLIANCE ANNEX 1. INTRO
Page 145 and 146: 2. NATIONAL AML/CFT POLICIES AND CO
Page 147 and 148: NATIONAL AML/CFT POLICIES AND COORD
Page 149 and 150: 3. LEGAL SYSTEM AND OPERATIONAL ISS
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4. TERRORIST FINANCING AND FINANCIN
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TERRORIST FINANCING AND FINANCING O
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5. PREVENTIVE MEASURES Preamble: Sc
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PREVENTIVE MEASURES Table A5.1. The
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PREVENTIVE MEASURES of RM 50 000 (U
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PREVENTIVE MEASURES a5.33. Criterio
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PREVENTIVE MEASURES Recommendation
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PREVENTIVE MEASURES a5.74. Criterio
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PREVENTIVE MEASURES the minimum AML
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PREVENTIVE MEASURES Table A5.2. Num
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6. SUPERVISION Recommendation 26 -
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SUPERVISION received from market in
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SUPERVISION a6.39. The SC is empowe
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SUPERVISION Sector speciic it and p
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SUPERVISION Recommendation 35 - San
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7. LEGAL PERSONS AND ARRANGEMENTS R
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LEGAL PERSONS AND ARRANGEMENTS a7.2
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LEGAL PERSONS AND ARRANGEMENTS the
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8. INTERNATIONAL COOPERATION Recomm
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INTERNATIONAL COOPERATION a8.20. As
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INTERNATIONAL COOPERATION a8.36. Cr
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INTERNATIONAL COOPERATION the SC wi
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INTERNATIONAL COOPERATION superviso
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Table of Acronyms AGC Attorney Gene
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TABLE OF ACRONYMS MACS Malaysian As
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