BNM flags compliance failures after action against company secretary, Labuan bank
Photo: The Vibes
Bank Negara Malaysia warns that lapses in suspicious transaction reporting and customer checks can expose Malaysia to financial crime
From the original report
FAILURES to report suspicious transactions and conduct proper customer checks have exposed weaknesses in Malaysia's safeguards against illicit funds, prompting Bank Negara Malaysia (BNM) to stress stricter compliance across professional services and financial institutions.
BNM deputy governor Datuk Marzunisham Omar said recent enforcement action against a company secretary and a Labuan investment bank demonstrated how compliance failures could create opportunities for criminals to operate.
…
This is a brief of a report by another newsroom. The excerpt below is from the original.
Read the full report at The Vibes
The Vibes
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About this story
- Source
- The Vibes
- Originally published
- Oct 23, 2026
- Updated here
- Oct 23, 2026
- Produced by
- Malaysia Times desk (brief) — reporting by the source
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