Bank Negara Malaysia

KYC & CDD

BNM Issues Draft Rules on Financial Sector Use of Electronic KYC

By Editors | 17/12/2019

BNM recommends the use of AI, machine learning or other forms of predictive algorithms to ensure accurate identification and verification, and to automate decision-making in customer onboarding.

Trading & Investment

Malaysia Central Bank Revises Repo Rules

By Editors | 14/11/2019

New rules increase repo transaction tenor to five years and expand the list of eligible securities allowed in repo transactions.

Structural Regulation

Malaysia Finalises Requirements for Electronic Trading Platforms

By Editors | 13/11/2019

The new rules went into effect on 11 November and require that electronic trading platforms and networks obtain prior approval from the central bank before offering services in Malaysia.

Conduct, Culture & Accountability

Malaysia Mandates Fair Treatment of Financial Consumers

By Editors | 10/11/2019

A new BNM policy document sets out expectations for financial firms to prioritise the interests of financial consumers and effectively manage conduct risks.

Anti-Money Laundering

Malaysia Proposes Cash Payment Limit to Curb Financial Crime

By Editors | 08/11/2019

The central bank says any action aimed at circumventing the proposed 25,000 ringgit cash transaction limit would be considered an offence for both the payer and payee.

AI Risk & Governance

Suptech Gains Momentum but Approaches Vary: FSI Paper

By Editors | 23/10/2019

Suptech use cases have mainly clustered around misconduct analysis, reporting and data management, according a new paper from the BIS Financial Stability Institute.

Supervision & Enforcement

Malaysia Passes Bill to Form New Anti-Financial Crime Body

By Editors | 13/10/2019

Expected to launch in January, the National Anti-Financial Crime Centre (NAFCC) will coordinate the efforts of 12 enforcement agencies to tackle financial crime.

Climate Risk

BNM to Require FIs to Report Climate-related Exposures

By Editors | 02/10/2019

Malaysia’s central bank will use the reported data to set new regulatory standards that better reflect the risks from climate-related exposures.

Anti-Money Laundering

BNM to Enforce AML Compliance at Law Firms in 2020

By Editors | 30/08/2019

BNM assistant governor Encik Adnan Zaylani Mohamad Zahid warns that enforcement action will be taken against legal professionals for AML non-compliance starting in 2020.