1 October 2020
On 1 September 2020 Bank Negara Malaysia (“BNM”) issued FAQs and Guidances for both Financial Institutions (“FIs”) and Designated Non-Financial Businesses and Professions (“DNFBPs”) and Non-Bank Financial Institutions (“NBFIs”), with the purpose of providing further clarification on the requirements in the revised Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions (“AML/CFT and TFS”) Policy Document that was issued on 31 December 2019 and came into force on 1 January 2020.
These include:
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Guidance on Verification of Individual Prosecutor.
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Customers for Customer Due Diligence; and
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Guidance on Beneficial Ownership.
For further information, please contact:
Christina S.C. Kow, Partner, Shearn Delamore & Co
christina@shearndelamore.com
