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“money laundering” means the act of a person who— (a) engages, directly or indirectly, in a transaction that involves proceeds of any unlawful activity;
The Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA), which imposes reporting obligations on reporting institutions as a counter-measure to prevent or mitigate ML/TF was enacted with the intention to fulfil the international standards imposed by the Financial Action Task Force (FATF).
An Act to provide for the offence of money laundering, the measures to be taken for the prevention of money laundering and terrorism financing offences and to provide for the forfeiture of property
Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Act 613) - Bank Negara Malaysia.
Feb 5, 2024 · BNM has issued a policy document on Anti-Money Laundering, Countering Financing of Terrorism, Countering Proliferation Financing and Targeted Financial Sanctions for Financial Institutions
Money laundering is the act of making illegally obtained funds appear legitimate.
Jun 13, 2023 · This comprehensive legislation is designed to prevent money laundering and terrorism financing, ensuring the integrity and stability of the Malaysian financial system.
