Malaysia
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Contents<br />
EXECUTIVE SUMMARY ...................................................................................................................................................5<br />
A Key indings .....................................................................................................................................5<br />
B Risk and General Situation ........................................................................................................8<br />
C Overall level of compliance ........................................................................................................9<br />
D Priority actions ........................................................................................................................... 12<br />
Table 1. Effective Implementation of Immediate Outcomes .................................................. 14<br />
Table 2. Compliance with FATF Recommendations ................................................................... 19<br />
MUTUAL EVALUATION REPORT OF MALAYSIA ................................................................................................. 25<br />
Preface ....................................................................................................................................................... 25<br />
1. ML/TF RISKS AND CONTEXT ................................................................................................... 27<br />
1.1 ML/TF Risks .............................................................................................................................................. 27<br />
1.2 Materiality .................................................................................................................................................. 28<br />
1.3 Structural Elements ............................................................................................................................... 28<br />
1.4 Other Contextual Factors..................................................................................................................... 30<br />
1.5 Scoping of Higher-Risk Issues ............................................................................................................ 30<br />
2. NATIONAL AML/CTF POLICIES AND COORDINATION ..................................................... 33<br />
2.1 Background and Context ..................................................................................................................... 34<br />
2.2 Technical Compliance (R.1, R.2, R.33) ........................................................................................... 37<br />
2.3 Effectiveness: Immediate Outcome 1 (Risk, Policy and Coordination) .......................... 37<br />
2.4 Recommendations on National AML/CTF Policies and Coordination ............................. 43<br />
3. LEGAL SYSTEM AND OPERATIONAL ISSUES ...................................................................... 45<br />
3.1 Background and Context ..................................................................................................................... 47<br />
3.2 Technical Compliance (R.3, R.4, R.29-32) .................................................................................... 47<br />
3.3 Effectiveness: Immediate Outcome 6 (Financial intelligence) ........................................... 47<br />
3.4 Effectiveness: Immediate Outcome 7 (ML investigation and prosecution) .................. 53<br />
3.5 Effectiveness: Immediate Outcome 8 (Coniscation) .............................................................. 61<br />
3.6 Recommendations on legal system and operational issues................................................. 71<br />
4. TERRORIST FINANCING AND FINANCING OF PROLIFERATION .................................. 74<br />
4.1 Background and Context ..................................................................................................................... 75<br />
4.2 Technical Compliance (R.5-8)............................................................................................................ 75<br />
4.3 Effectiveness: Immediate Outcome 9 (TF investigation and prosecution)................... 75<br />
4.4 Effectiveness: Immediate Outcome 10 (TF preventive measures and<br />
inancial sanctions) ................................................................................................................................ 80<br />
4.5 Effectiveness: Immediate Outcome 11 (PF inancial sanctions) ....................................... 86<br />
4.6 Recommendations on Terrorist Financing and Financing of Proliferation .................. 90<br />
5. PREVENTIVE MEASURES .......................................................................................................... 92<br />
5.1 Background and Context ..................................................................................................................... 93<br />
5.2 Technical Compliance (R.9-23).......................................................................................................... 94<br />
5.3 Effectiveness: Immediate Outcome 4 (Preventive Measures) ............................................ 95<br />
5.4 Recommendations on Preventive Measures .............................................................................103<br />
Anti-money laundering and counter-terrorist inancing measures in <strong>Malaysia</strong> - 2015 © FATF and APG 2015 1
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