Anti Money Laundering Act Malaysia

The anti money laundering anti terrorism financing and proceeds of unlawful activities act 2001 the amlatfa is the primary malaysian statute dealing with anti money laundering and anti terrorism financing the amlatfa is federal legislation that has application throughout all the states and federal.

Anti money laundering act malaysia. Laws of malaysia act 613 anti money laundering anti terrorism financing and proceeds of unlawful activities act 2001 date of royal assent 25 jun 2001 date of publication in the gazette 5 jul 2001 an act to provide for the offence of money laundering the measures to be taken for the prevention of money laundering and terrorism. Interpretation part ii money laundering offences 4. Bank negara malaysia bnm is the designated competent authority and regulator under the anti money laundering anti terrorism financing act and proceeds of unlawful activities act 2001 aml act the aml act imposes obligations on legal entities institutions and persons reporting institutions to monitor the business activities of the reporting institutions and impose. Offence of money laundering 5.

Malaysia s anti money laundering act 2001 amla was enacted in january 2002. The following activities are considered to be money laundering pursuant to section 4 of the anti money laundering anti terrorism financing and proceeds of unlawful activities act 2001 amlatfa. Anti money laundering regulations in malaysia. A few months ago malaysia was rocked with the news of tan sri lee kim yew being threatened with a charge under the anti money laundering anti terrorism financing and proceeds of unlawful activities act 2001 of malaysia amlatfa.

1 1 what is the legal authority to prosecute money laundering at the national level. 22 august 2017. The amla has been renamed and revised as anti money laundering and anti terrorism financing act 2001 act 613 which came into force on march 6 2007 that incorporated relevant requirements in the area of terrorism financing. Laws of malaysia act 613 anti money laundering act 2001 date of royal assent 25 jun 2001 date of publication in the gazette 5 jul 2001 an act to provide for the offence of money laundering the measures to be taken for the prevention of money laundering and to provide for forfeiture of property derived.

Laws of malaysia act 613 anti money laundering and anti terrorism financing act 2001 arrangement of sections part i preliminary section 1. Restriction on revealing. Protection of informers and information 6.