Enforcement Actions taken by BNM against Regulatees / Licensees / Reporting Institutions
|
Date of Action Taken |
Institution |
Provision Contravened |
Nature of Offence |
Action Taken |
Remarks |
Publication Notice / Press Release |
|
20 January 2026 |
Bank Kerjasama Rakyat Malaysia Berhad |
Section 41(4)(a) of the Development Financial Institutions Act 2002 read together with:
|
Failure to comply with cybersecurity and customer information protection requirements |
Administrative Monetary Penalty – RM1,000,000 |
The institution has taken remedial steps to prevent recurrence of the breaches |
|
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6 January 2026 |
KAF Investment Bank Berhad |
S214(6) of the Financial Services Act 2013 read together with the Foreign Exchange Policy (FEP) Directions to Financial Institution |
Failure to ensure compliance with Foreign Exchange Policy |
Compound – RM1,025,000 |
The institution has taken remedial steps to prevent recurrence of the non-compliance |
|
|
July 2025 – December 2025 |
Foo In Sdn. Bhd. Starling Peak International Sdn. Bhd. (formerly known as Hijarah Traders Sdn. Bhd.) Tukaran Baik Sdn. Bhd. DB Global Exchange Sdn. Bhd. Best Rate Galaxy Sdn. Bhd. First Million Avenue Sdn. Bhd. Popular Forex Sdn. Bhd. Kabir Exchange Sdn. Bhd. (formerly known as Cendral Sdn. Bhd.) Mubarak Forex Exchange Sdn. Bhd. True Ringgit Sdn. Bhd. Alif Money Changer Sdn. Bhd. Heng Loong Money Changer Sdn. Bhd. Chop Soon Sheng Sdn. Bhd. |
S.22 (1) of Money Services Business Act 2011 |
Failure to meet the minimum capital funds requirement |
Administrative Monetary Penalties ranging from RM1,500 to RM2,000 |
The institutions have taken remedial steps to prevent recurrence of the non-compliance |
|
| 17 November 2025 | Ilham Secretarial Services | Section 14(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 read together with section 86(a) of the same Act | Failure to promptly submit suspicious transaction report (STR) | Compound – RM8,625 | The institution has taken remedial steps to prevent recurrence of the non-compliance | P.N. 04/2026 |
| 17 November 2025 | Boardroom Corporate Services Sdn. Bhd. | Section 86(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA) read together with section 83 of the same Act for breach of paragraph 19.3.2 of the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Designated Non-Financial Businesses and Professions (DNFBPs) and Non-Bank Financial Institutions (NBFIs) Policy Document (AML/CFT and TFS for DNFBPs and NBFIs PD) | Failure to promptly submit suspicious transaction report (STR) | Compound – RM46,000 | The institution has taken remedial steps to prevent recurrence of the non-compliance | P.N. 03/2026 |
| Section 86(b) of the AMLA read together with section 16(5) of the same Act for breach of paragraphs 14.11.1 and 14C.2.1 of the AML/CFT and TFS for DNFBPs and NBFIs PD | Failure to conduct enhanced customer due diligence (EDD) | |||||
| 20 November 2025 | Small Medium Enterprise Development Bank Malaysia Berhad | Section 41(4)(a) of the Development Financial Institutions Act 2002 read together with paragraph 22.1.1 of the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions Policy Document | Failure to promptly submit suspicious transaction report (STR) | Administrative Monetary Penalty –RM460,000 | The institution has taken remedial steps to prevent recurrence of the non-compliance | P.N. 02/2026 |
| 20 November 2025 | MBSB Bank Berhad | Section 58(1)(a) of the Islamic Financial Services Act 2013 read together with paragraph 22.3.2 of the Anti-Money Laundering, Countering Financing of Terrorism, Countering Proliferation Financing and Targeted Financial Sanctions for Financial Institutions Policy Document | Failure to comply with requirement relating to submission of suspicious transaction report (STR) despite fitting its internal criteria (“red flags”) | Administrative Monetary Penalty – RM560,000 | The institution has taken remedial steps to prevent recurrence of the non-compliance | P.N. 01/2026 |
| January 2024 – June 2025 | Team Smart Forex Sdn. Bhd. | S34(1) of Money Services Business Act 2011 read together with Guidelines on Statistical Reporting for Money Services Business | Failure to submit the required information within the stipulated timeline. | Administrative Monetary Penalties ranging from RM1,500 to RM3,000 | The institutions have taken remedial steps to prevent recurrence of the non-compliances. | P.N. 15/2025 |
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Bumi Teraju Money Changers Sdn. Bhd. DB Global Exchange Sdn. Bhd. Era Inspirasi Sdn. Bhd. Foo In Sdn. Bhd. Starling Peak International Sdn. Bhd. (formerly known as Hijarath Traders Sdn. Bhd.) Maju MC Sdn. Bhd. Pacific Money Exchange Sdn. Bhd. Qurex Sdn. Bhd. R Trader Money Changer (M) Sdn. Bhd. |
S22 (1) of Money Services Business Act 2011 | Failure to meet the minimum capital funds requirement. | ||||
| 5 December 2025 | Mayfair Forex Sdn. Bhd. | S74(3) of Money Services Business Act 2011 read together Anti-Money Laundering, Counter Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions Policy Document and Anti-Money Laundering, Countering Financing of Terrorism, Countering Proliferation Financing and Targeted Financial Sanctions for Financial Institutions Policy Document. | Failure to conduct customer due diligence (CDD) | Administrative Monetary Penalty – RM10,200 | The institution has taken remedial steps to prevent recurrence of the non-compliance. | P.N. 14/2025 |
| 31 October 2025 | Moneywave Sdn. Bhd. |
S74(3) of Money Services Business Act 2011 read together with Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions Policy Document and Anti-Money Laundering, Countering Financing of Terrorism, Countering Proliferation Financing and Targeted Financial Sanctions for Financial Institutions Policy Document |
Failure to maintain sanctions database on the United Nations Security Council Resolutions (UNSCR) List and Domestic List | Administrative Monetary Penalty – RM14,000 | The institution has taken remedial steps to prevent recurrence of the non-compliance | P.N. 13/2025 |
| 31 July 2025 | JAGS Money Sdn. Bhd |
S27(1) of the Money Services Business Act 2011 |
Failure to issue money changing receipts to customers | Compound – RM69,600 | The institution has taken remedial steps to prevent recurrence of the non-compliance | P.N. 12/2025 |
| 19 September 2025 |
S74(3) of Money Services Business Act 2011 read together with Anti-Money Laundering, Counter Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions Policy Document |
Failure to conduct customer due diligence (CDD) | Administrative Monetary Penalty – RM17,400 | |||
| 28 August 2024 | Syarikat S.M. Ziaudeen Sdn. Bhd. |
S74 and S75(1)(b) of the Money Services Business Act 2011 read together with the paragraphs 14C.10.1, 14C.12.1, 14C.10.5 and 14C.14.1 of the Anti-Money Laundering, Counter Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions Policy Document |
Failure to conduct customer due diligence (CDD) and ongoing due diligence (ODD) | Administrative Monetary Penalty – RM193,500 | The institution has taken remedial steps to prevent the recurrence of the non-compliance | P.N. 11/2025 |
| 19 June 2025 | Alipay Malaysia Sdn. Bhd. (now known as AIMY Merchant Services Sdn. Bhd.) |
S. 48(1)(a) of the Financial Services Act 2013 read together with paragraphs 27.3.5, 27.3.7, 27.4.2, 27.6.1 and 27.7.1 of the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions Policy Document |
Failure to update sanctions database, conduct sanctions screening, and immediately freeze and report to BNM. | Administrative Monetary Penalty – RM 340,000 | The institution has taken remedial steps to prevent recurrence of the non-compliance | P.N. 10/2025 |
| 16 June 2025 | Bank Simpanan Nasional |
S.41(4)(a) of the Development Financial Institutions Act 2002 read together with paragraph 10.32 of Risk Management in Technology Policy Document |
Failure to ensure unplanned downtime for critical systems that affect user interface does not exceed specified time thresholds | Administrative Monetary Penalty – RM995,000 | The institution has taken remedial steps to prevent recurrence of the non-compliance | P.N. 09/2025 |
| 16 June 2025 | Bank Kerjasama Rakyat Malaysia Berhad |
S.41(4)(a) of the Development Financial Institutions Act 2002 read together with paragraph 10.32 of Risk Management in Technology Policy Document |
Failure to ensure unplanned downtime for critical systems that affect user interface does not exceed specified time thresholds | Administrative Monetary Penalty – RM2,850,000 | The institution has taken remedial steps to prevent recurrence of the non-compliance | P.N. 08/2025 |
| 16 June 2025 | Bank Islam Malaysia Berhad |
S.58(1)(a) of the Islamic Financial Services Act 2013 read together with paragraph 10.32 of the RMiT Policy Document |
Failure to ensure unplanned downtime for critical systems that affect user interface does not exceed specified time thresholds | Administrative Monetary Penalty – RM1,745,000 | The institution has taken remedial steps to prevent recurrence of the non-compliance | P.N. 07/2025 |
| 27 May 2025 |
S.58(1)(a) of the Islamic Financial Services Act 2013 read together with:
of the Anti-Money Laundering, Countering Financing of Terrorism, and Targeted Financial Sanctions for Financial Institutions Policy Document |
Failure to conduct sanctions screening and failure to immediately submit report upon determination to BNM | Administrative Monetary Penalty – RM1,700,000 | |||
| 14 February 2025 | Bank Pembangunan Malaysia Berhad |
S.41(4)(a) of the Development Financial Institutions Act 2002 read together with paragraphs 14A.3(c) and 14A.9.6 of the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions Policy Document |
Failure to conduct customer due diligence | Administrative Monetary Penalty – RM229,500 | The institution has taken remedial steps to prevent recurrence of the non-compliance | P.N. 06/2025 |
| 7 April 2025 |
S.41(4)(a) of the Development Financial Institutions Act 2002 read together with paragraphs 27.3.2, 27.3.5, 27.3.7 and 27.4.2 of the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions Policy Document |
Failure to update sanctions database and conduct sanctions screening on its existing customers without delay | Administrative Monetary Penalty – RM264,000 | |||
| 13 March 2025 | HSBC Bank Malaysia Berhad |
S.48(1)(a) of the Financial Services Act 2013 read together with paragraphs 14A.1(h), 14A.3(c) and 14A.9.6 of the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions Policy Document |
Failure to conduct customer due diligence | Administrative Monetary Penalty – RM324,000 | The institutions have taken remedial steps to prevent recurrence of the non-compliance | P.N. 05/2025 |
|
S.48(1)(a) of the Financial Services Act 2013 read together with paragraphs 27.4.1 and 28.3.1 of the following policy documents:
|
Failure to conduct sanctions screening on its new customers | Administrative Monetary Penalty – RM2,940,000 | ||||
| HSBC Amanah Malaysia Berhad |
S.58(1)(a) of the Islamic Financial Services Act 2013 read together with paragraphs 27.4.1 and 28.3.1 of the following policy documents:
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| 3 March 2025 | Maybank Islamic Berhad |
Central Credit Reference Information System (CCRIS) – Requirements on the Submission, Usage and Protection of Credit Information Policy Document issued on 1 December 2023: Paragraphs 21.1 and 21.2 of the CCRIS PD and section 155(3)(b) of the Islamic Financial Services Act 2013 (IFSA) |
Failure to report accurate information on its customers in CCRIS. | Administrative Monetary Penalty – RM1,200,000 | The institution has taken remedial steps to prevent recurrence of the non-compliance | P.N. 04/2025 |
| 6 March 2025 | JAGS Money Sdn. Bhd. | S74(3) of the Money Services Business Act 2011 read together with paragraphs 27.3.5, 27.3.7 and 27.4.1 of the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions Policy Document |
Failure to promptly update the sanctions database upon the publication of the Domestic List Failure to conduct sanctions screening on new customers against the Domestic List |
Administrative Monetary Penalty – RM6,000 | The institution has taken remedial steps to prevent the recurrence of the non-compliance | P.N. 03/2025 |
| 6 March 2025 | Merchantrade Asia Sdn. Bhd. | Subsection 74(3) of the Money Services Business Act 2011 read together with paragraphs 27.3.5, 27.3.7, 27.4.1, 27.4.5 and 27.4.6 of the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions Policy Document |
Failure to promptly update the sanctions database upon the publication of the Domestic List Failure to conduct sanctions screening on new customers against the Domestic List Failure to ascertain if its customers are listed in the Domestic List |
Administrative Monetary Penalty – RM29,000 | The institution has taken remedial steps to prevent the recurrence of the non-compliance | P.N. 02/2025 |
| 18 November 2024 | AmBank (M) Berhad | S214(6) of the Financial Services Act 2013 read together with the Foreign Exchange Policy (FEP) Direction to Financial Institution | Failure to comply with the Direction to Financial Institution, issued pursuant to section 214(6) of the Financial Services Act 2013 (FSA) | Compound – RM875,000 | The institution has taken remedial steps to prevent recurrence of the non-compliance | P.N. 01/2025 |
| 28 August 2024 | Worldwide Superstar Money Changer Sdn. Bhd. |
S74 and S75(1)(b) of the Money Services Business Act 2011 (MSBA) read together with paragraphs 14C.1(b) and 14C.12.1 of the Anti-Money Laundering, Counter Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions (AML/CFT and TFS for FIs) Policy Document S74 and S75(1)(b) of the MSBA read together with paragraph 29.8.3(a) of Governance, Risk Management and Operations for Money Services Business (GRMO) Policy Document |
Failure to conduct customer due diligence (CDD) Failure to ensure proper installation and coverage of CCTV at the premises |
Administrative Monetary Penalty – RM51,000 | The institution has taken remedial steps to prevent the recurrence of non-compliance | P.N. 10/2024 |
| 11 July 2024 | Malayan Banking Berhad |
S143(3)(b) and S143(4) of the Financial Services Act 2013 (FSA) or S155(3)(b) and S155(4) of the Islamic Financial Services Act 2013 (IFSA) read together with requirements under the following policy documents:
|
Statistical Reporting | Administrative Monetary Penalty – RM750,000 | The institutions have taken remedial steps to prevent the recurrence of non-compliance | P.N. 9/2024 |
| RHB Bank Berhad | Administrative Monetary Penalty – RM750,000 | |||||
| Maybank Islamic Berhad | Administrative Monetary Penalty – RM150,000 | |||||
| AmInvestment Bank Berhad | Administrative Monetary Penalty – RM10,000 | |||||
| 28 August 2024 | BSB Darussalam Sdn. Bhd. | S.74 and S.75(1)(b) of Money Services Business Act 2011 read together with paragraphs 14C.4(a) and 14C.12.1 of the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions Policy Document | Failure to conduct customer due diligence | Administrative Monetary Penalty – RM30,600 | The institution has taken remedial steps to prevent the recurrence of the non-compliance | |
| 3 September 2024 | Bank Pertanian Malaysia Berhad (Agrobank) | S.41(4) of Development Financial Institutions Act 2002 read together with paragraphs 27.4.1, 27.4.2, 28.3.1 and 28.3.2 of the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions Policy Document | Failure to conduct timely sanctions screening on its customers and beneficial owners | Administrative Monetary Penalty – RM660,000 | The institution has taken remedial steps to prevent the recurrence of the non-compliance | |
| 22 July 2024 | Bank of China (Malaysia) Berhad | S.48(1)(a) of Financial Services Act 2013 read together with paragraph 12.1(b) Outsourcing Policy Document | Failure to obtain approval from Bank Negara Malaysia (BNM) before making significant modification to its existing material outsourcing arrangement | Administrative Monetary Penalty – RM88,000 | The institution has taken remedial steps to prevent recurrence of the non-compliances | |
| 29 July 2024 | Malayan Banking Berhad | S.48(1)(a) of Financial Services Act 2013 read together with paragraph 10.32 of the RMiT Policy Document. | Failure to ensure unplanned downtime for critical systems that affect user interface does not exceed specified time thresholds. | Administrative Monetary Penalty – RM2,160,000 | The institutions have taken remedial steps to prevent the recurrence of non-compliance | |
| Maybank Islamic Berhad | S.58(1)(a) of Islamic Financial Services Act 2013 read together with paragraph 10.32 of the RMiT Policy Document. | Administrative Monetary Penalty – RM2,160,000 | ||||
| 29 July 2024 | CIMB Bank Berhad | S.48(1)(a) of Financial Services Act 2013 read together with paragraph 10.32 of the Risk Management in Technology (RMiT) Policy Document. | Failure to ensure unplanned downtime for critical systems that affect user interface does not exceed specified time thresholds. | Administrative Monetary Penalty – RM380,000 | The institutions have taken remedial steps to prevent the recurrence of non-compliance | |
| CIMB Islamic Bank Berhad | S.58(1)(a) of Islamic Financial Services Act 2013 read together with paragraph 10.32 of the RMiT Policy Document. | Administrative Monetary Penalty – RM380,000 | ||||
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22 April 2024 |
People’s Corner Sdn. Bhd. |
S.27(1) of the Money Services Business Act 2011 read together with the paragraph 5(a) of Money Services Business (Duties of Licensee) Regulations 2012 |
Failure to issue money changing receipts to customers |
Compound – RM12,000 |
The institution has taken remedial steps to prevent recurrence of the non-compliance |
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11 June 2024 |
S.74(3) of Money Services Business Act 2011 read together with paragraph 14C.12 of the Anti-Money Laundering, Counter Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions Policy Document |
Failure to conduct customer due diligence (CDD) |
Administrative Monetary Penalty – RM12,000 |
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| 29 January 2024 | Habib Jewels Sdn. Bhd. |
Section 14(1)(b) of AMLA read together with Anti- Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Designated Non-Financial Businesses and Professions (DNFBPs) and Non-Bank Financial Institutions (NBFIs) Policy Document |
Failure to promptly submit suspicious transaction reports (STR) |
Compound – RM96,250 | The institution has taken remedial steps to prevent recurrence of the non- compliance | P.N. 02/2024 |
| 30 January 2024 |
CIMB Bank Berhad |
S143(3)(b) and S143(4) of the Financial Services Act 2013 (FSA) or S155(3)(b) and S155(4) of the Islamic Financial Services Act 2013 (IFSA) read together with requirements under the following policy documents: a) STATsmart Reporting – Financial, Compliance and Industry Specific Data (STATsmart PD) issued on 1 June 2022; b) External Sector Statistics (ESS) System – Submission of International Transactions and External Position Information Policy Document (ESS PD) issued on 31 January 2022 and revised on 1 November 2022; and c) Central Credit Reference Information System (CCRIS) – Requirements on the Submission, Usage and Protection of Credit Information (CCRIS PD) issued on 29 January 2021. |
Failure to comply with Statistical Reporting requirements |
Administrative Monetary Penalty – RM600,000 |
The institutions have taken remedial steps to prevent recurrence of the non-compliance |
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HSBC Bank Malaysia Berhad |
Administrative Monetary Penalty – RM600,000 |
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Bank Muamalat Malaysia Berhad |
Administrative Monetary Penalty – RM600,000 |
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Bank Islam Malaysia Berhad |
Administrative Monetary Penalty – RM600,000 |
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Bank of America Malaysia Berhad |
Administrative Monetary Penalty – RM600,000 |
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Citibank Berhad |
Administrative Monetary Penalty – RM360,000 |
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Affin Bank Berhad |
Administrative Monetary Penalty – RM120,000 |
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United Overseas Bank (M) Berhad |
Administrative Monetary Penalty – RM120,000 |
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OCBC Bank (M) Berhad |
Administrative Monetary Penalty – RM120,000 |
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Affin Islamic Bank Berhad |
Administrative Monetary Penalty – RM120,000 |
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CIMB Islamic Bank Berhad |
Administrative Monetary Penalty – RM120,000 |
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Al-Rajhi Banking and Investment Corporation (M) Berhad |
Administrative Monetary Penalty – RM40,000 |
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MBSB Bank Berhad |
Administrative Monetary Penalty – RM40,000 |
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MIDF Amanah Investment Bank Berhad |
Administrative Monetary Penalty – RM8,000 |
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| 18 May 2023 | TNG Digital Sdn. Bhd. (TNGD) |
S48(1)(a) of Financial Services Act 2013 read together with Anti-Money Laundering and Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions policy document (AML/CFT and TFS for Fis PD). S48(1)(a) of Financial Services Act 2013 read together with Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions Policy Document |
Failure to conduct sanctions screening on the names of its customers Failure to ascertain and make further enquiries that its customer matched with the United Nations Security Council Resolutions List or the Minister of Home Affairs Domestic List |
Administrative Monetary Penalty – RM 600,000 | The institution has taken remedial steps to prevent recurrence of the non-compliance | P.N. 07/2023 |
| 29 December 2022 | MPI Generali Insurans Berhad (MPGB) | S48(1)(a) of Financial Services Act 2013 read together with Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions Policy Document | Failure to conduct sanctions screening prior to onboarding of new customers | Administrative Monetary Penalty – RM 260,000 | The institution has taken remedial steps to address the sanction screening lapses | P.N. 06/2023 |
| 12 April 2022 | Mandiri International Remittance Sdn. Bhd. | S74(3) of Money Services Business Act 2011 read together with Anti-Money Laundering and Counter Financing of Terrorism – Money Services Business (Sector 3) Policy Document | Failure to identify and verify the beneficial owners (BOs) for the remittance transactions | Administrative Monetary Penalty – RM 134,400 | The institution has taken remedial steps to prevent recurrence of the non-compliance | P.N. 05/2023 |
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14 November 2022 |
MCIS Insurance Berhad |
S48(1)(a) of Financial Services Act 2013 read together with Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions Policy Document |
Failure to conduct sanctions screening prior to onboarding of new customers |
Administrative Monetary Penalty - RM132,000 |
The institution has taken remedial steps to address the sanction screening lapses |
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07 October 2022 |
Takaful Ikhlas Family Berhad |
S58(1)(a) of Islamic Financial Services Act 2013 read together with Anti-Money Laundering and Counter Financing of Terrorism – Insurance and Takaful (Sector 2) Policy Document |
Failure to conduct sanctions screening Failure to flag high-risk customers’ certificates |
Administrative Monetary Penalty - RM612,000 |
The institution has taken remedial steps to address the sanction screening lapses |
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27 September 2022 |
Co-opbank Pertama Malaysia Berhad |
S291(2) of Islamic Financial Services Act 2013 |
Failure to maintain loss loan coverage ratio (LLCR) of minimum 100% at all times |
Administrative Monetary Penalty - RM828,000 |
The institution has taken remedial steps to prevent recurrence of the non-compliance |
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01 March 2022 27 September 2022 |
Wawasan Ilham (M) Sdn. Bhd. |
S27(1) of Money Services Business Act 2011 read together with Money Services Business (Duties of Licensees) Regulations 2012 |
Failure to issue money changing receipts to customers |
Compound - RM151,200 |
The institution has taken remedial steps to prevent recurrence of the non-compliance |
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| S74(3) of Money Services Business Act 2011 read together with Anti-Money Laundering and Counter Financing of Terrorism – Money Services Business (Sector 3) Policy Document | Failure to conduct customer due diligence (CDD) | Administrative Monetary Penalty - RM12,600 | ||||
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22 February 2019 17 May 2019 |
CIMB Bank Berhad |
S. 133(1) of Financial Services Act 2013 (FSA) S. 48(1)(a) of FSA read together with the Management of Customer Information and Permitted Disclosures Policy Document |
Disclosure of customer information to third party Failure to comply with standards issued by the Bank |
Compound -RM6,400,000 Administrative Monetary Penalty – RM3,400,000 |
The institutions had taken remedial steps to ensure the safety of customer information. |
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22 February 2019 17 May 2019 |
CIMB Islamic Bank Berhad |
S. 145(1) read together with S. 261 of the Islamic Financial Services Act (IFSA) S.58(1)(a) of IFSA read together with the Management of Customer Information and Permitted Disclosures Policy Document |
Disclosure of customer information to third party Failure to comply with standards issued by the Bank |
Compound – RM3,200,000 Administrative Monetary Penalty – RM1,700,000 |
The institutions had taken remedial steps to ensure the safety of customer information. |
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14 January 2019 |
J.P. Morgan Chase Bank Berhad |
S. 50(1) of Financial Services Act 2013 read together with Paragraph 8.1(b) of the Single Counterparty Exposure Limit (SCEL) Policy Document |
Failure to comply with the single counterparty exposure limit |
Administrative Monetary Penalty - RM2,700,000 Ordered to do - To conduct a holistic review on the adequacy and effectiveness of its internal SCEL policy and procedures |
The institution has taken remedial steps to reduce its exposure within the regulatory limits. |
