Bank Negara Malaysia

Anti-Money Laundering

Malaysia Taking Steps to Enhance AML/CFT Regime

By Editors | 16/05/2024

Malaysian laws are being reviewed to address “gaps and implementation issues” and “elevate beneficial ownership reporting”.

Supervision & Enforcement

BNM Fines 14 Banks Over Erroneous Statistical Submissions

By Sanday Chongo Kabange | 09/05/2024

The reporting failures were caused by unresolved technical issues and inadequate operating procedures.

Supervision & Enforcement

BNM Publishes Document Detailing its Enforcement Approach

By Sanday Chongo Kabange | 07/05/2024

BNM says increased transparency should “foster confidence” in its role as a regulator and supervisor.

Credit Risk

Malaysia to Regulate BNPL Under New Consumer Credit Act

By Sanday Chongo Kabange | 23/04/2024

The government and regulators are reportedly formulating a new Consumer Credit Act that will capture non-bank entities including BNPL providers.

KYC & CDD

BNM Finalises Policy Requirements for Electronic KYC

By Mark Johnston | 17/04/2024

The policy document sets revised requirements and guidance for implementing e-KYC solutions in Malaysia’s financial sector.

Operational Risk

BNM Directs CIMB, Maybank to Explain Recent Service Outages

By Editors | 10/04/2024

CIMB Malaysia experienced service disruptions on some of its services on Tuesday, while Maybank saw some disruptions last Friday.

Conduct, Culture & Accountability

BNM Updates Policy to Ensure Fair Treatment of Vulnerable Consumers

By Sanday Chongo Kabange | 30/03/2024

The revised policy document introduces specific requirements for financial service providers on the fair treatment of vulnerable consumers.

Conduct, Culture & Accountability

Malaysia SC Enhances Conduct Guidelines for Capital Market Intermediaries

By Sanday Chongo Kabange | 30/03/2024

The revised guidelines include new chapters on the treatment of vulnerable clients, the provision of personal advice, and online offerings of capital market-related services.

Fraud, Scams & Cybercrime

Malaysia Sees 5x Increase in Online Financial Scam Reports

By Ranamita Chakraborty | 22/03/2024

BNM is working with the financial sector and law enforcement on improving fund tracing, disrupting fraudulent fund flows, and raising awareness.