BNM issued revised Policy Documents on Anti-Money Laundering, Countering Financing of Terrorism, Countering Proliferation Financing and Targeted Financial Sanctions.
On 5 February 2024, Bank Negara Malaysia (BNM) through its Financial Intelligence and Enforcement Department had issued revised Policy Documents as follows:
(collectively referred as “the revised Policy Documents”)
The revised Policy Documents was made effective on 6 February 2024, except for the Counter Proliferation Financing (CPF) requirements in the AML/CFT/CPF and TFS for DNFBPs and NBFIs which shall come into effect on a date to be specified by the competent authority.
The revision includes recent updates to the Financial Action Task Force’s Standards and enhances clarity on the AML/CFT/CPF requirements imposed on reporting institutions. Reporting institutions are required to implement a risk-based approach in managing ML/TF/PF risks and comply with the TFS requirements.
 Policy Document on Anti-Money Laundering, Countering Financing of Terrorism, Countering Proliferation Financing and Targeted Financial Sanctions for Designated Non-Financial Businesses and Professions and Non-Bank Financial Institutions (bnm.gov.my)