Regulatory Alerts2024-09-24
Quick Guide on Implementation of Targeted Financial Sanctions Relating to Proliferation Financing for Reporting Institutions in the Capital Market
The Securities Commission Malaysia issues this revised quick guide to instruct reporting institutions in the capital market on implementing targeted financial sanctions against proliferation financing. Intermediaries are required to conduct risk assessments, maintain updated UN sanctions lists, screen customers for matches, and immediately freeze or reject transactions involving designated persons. Institutions must also report freezing actions to the Commission and submit suspicious transaction reports to Bank Negara Malaysia while adhering to specific obligations under the Strategic Trade Act and AML Guidelines.
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