Professional Documents
Culture Documents
Customer
Customerlose
loseconfidence,
confidence,
Adverse
AdversePublicity
Publicity
Operational
Risk
Direct
Direct/ /Indirect
Indirectlosses,
losses,
Concentration
Risk
Sudden
Suddenwithdrawal,
withdrawal,affecting
affectingliquidity
liquidity
Licensing
Risk
Licence
Licencesuspend/cancelled
suspend/cancelled
Legal
Risk
Fine/Imprisonment
Fine/Imprisonmentor
orBoth
Both
Legislative Framework
BNM Guidelines
BNM UPW/GP1:
Standard Guidelines on Anti-Money
Laundering and Counter Financing of
Terrorism (AML/CFT) (15 November 2006)
&
Sectorial Guideline 1 for Banking &
Financial Institution
Pawnshops Owners
How to submit ?
Where to submit ?
Employees
2.
3.
NO TIPPING
OFF
AMLA Penalties
or
Tipping off to any other
person of an investigation
that is likely to prejudice the
investigation
Conclusion
1. Money Laundering has major impact on
banks
2. Non compliance to AMLA requirement
leads to heavy penalty
3. Banks must establish good monitoring
system and guidelines to meet reporting
requirement
4. Gap between requirement and
implementation
5. Conflict between business obligation and
compliance obligation
Recomendations
1. Establish comprehensive written
guidelines and SOP
2. Systems to monitor and alert suspicious
transaction
3. Continuous training and awareness
programme for all staff especially
frontliners
4. Regular and comprehensive audit by BNM
5. Internal check and audit
Q&A
Disclaim Notes
All photos Illustrated in this presentation are for Illustration purpose only.
Photos are obtained from varies sources from Internet and are for acedemic purpose only.