Regulatory Alerts2024-09-05
Quick Guide on Implementation of Targeted Financial Sanctions Relating to Terrorism Financing for Reporting Institutions in the Capital Market
The Securities Commission Malaysia issued this guide to instruct reporting institutions in the capital market on implementing targeted financial sanctions for terrorism financing. It mandates that institutions identify and assess terrorism financing risks by aligning with the National Risk Assessment and conducting rigorous, automated screening of customers against United Nations Security Council resolutions and domestic lists. Reporting institutions are required to immediately freeze assets linked to designated entities, report such findings to relevant authorities, and submit periodic compliance updates to the Securities Commission.
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