Regulatory Alerts2024-06-14
Summary of Amendments to AML/CFT/CPF Guidelines for Capital Market Reporting Institutions
The Securities Commission Malaysia issued revised guidelines effective 13 June 2024 to consolidate anti-money laundering, counter-terrorist financing, and counter-proliferation financing requirements into a single framework. The amendments introduce new obligations including risk-based approaches for proliferation financing, enhanced due diligence for Virtual Asset Service Providers, and mandatory sanction screening for customers and beneficiaries. Additionally, the document updates definitions, clarifies legal bases under Malaysian legislation, and enhances recordkeeping and senior management responsibilities.
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