Anti Money Laundering Act Malaysia Pdf

Highlights the growth of money laundering in malaysia and the efforts of the malaysian government to curb it including the anti money laundering act 2001.

Anti money laundering act malaysia pdf. 1 1 what is the legal authority to prosecute money laundering at the national level. Anti money laundering 7 laws of malaysia act 613 anti money laundering act 2001 an act to provide for the offence of money laundering the measures to be taken for the prevention of money laundering and to provide for forfeiture of property derived from or involved in money laundering and for matters incidental thereto or connected. Short title and commencement 2. As a member of the united nations malaysia is obliged to comply with the unsc s resolutions.

Malaysia was named by the us pentagon as. Restriction on revealing. Read more these documents are formulated in accordance with the provisions of the anti money laundering anti terrorism financing and proceeds of unlawful activities act 2001 amla. The anti money laundering anti terrorism financing and proceeds of unlawful activities act 2001 the amlatfa is the primary malaysian statute dealing with anti money laundering and anti terrorism financing the amlatfa is federal legislation that has application throughout all the states and federal.

Highlights the growth of money laundering in malaysia and the efforts of the malaysian government to curb it including the anti money laundering act 2001. Laws of malaysia act 613 anti money laundering and anti terrorism financing act 2001 arrangement of sections part i preliminary section 1. Interpretation part ii money laundering offences 4. Number of reporting institutions.

Offence of money laundering 5. Task force fatf 1 the anti money laundering and countering financing of terrorism aml cft reporting obligations imposed on reporting institutions are risk informed and subject to periodic review in tandem with any material changes to the international standards or the ml tf risk situation in malaysia. The anti money laundering and anti terrorism financing act 2001 amlatfa bank negara malaysia as competent authority under amlatfa overview of aml cft regime in malaysia came into force on 15 january 2002 amended in 2003 criminalises money laundering and terrorism financing. Malaysia was named by the us pentagon as.