Malaysian FIU – Establishing an FIU, Issues and ResolutionsBy презентация

Abdul Ghani
Deputy Governor
Bank Negara Malaysia

30 March 2005

International Seminar on Anti-Money Laundering

Negara Malaysia
Background
Mission
Organisational Structure
Core partners of the FIU
Issues and Resolutions
Building Stakeholders’ Confidence
Building Reporting Institutions’ Confidence in the FIU
Ensuring Compliance among Reporting Institutions
Building Expertise among Stakeholders
Compliance with International Standards
Challenges

to Counter Money Laundering (NCC)

Malaysian Government approved AMLA concept paper

Dewan Rakyat (Lower House) passed AMLA

Dewan Negara (Upper House) passed AMLA

AMLA came into force

October 2000

May 2001

June 2001

January 2002

AMLA (Amendment) Act 2003 gazetted as law

December 2003

the national anti-money laundering / combating the financing of terrorism (AML/CFT) programme
Develop and ensure proper implementation of measures to counter money laundering based on internationally accepted standards
Comprises 13 government Ministries and agencies
Each agency is responsible to study, provide information, and report the development of any decision in the NCC meeting

Offshore Financial Services Authority
Ministry of Domestic Trade and Consumers Affairs

Bank Negara Malaysia

Ministry of Finance
Ministry of Foreign Affairs
Ministry of Internal Security
Royal Malaysian Customs
Royal Malaysian Police
Securities Commission

Bank Negara Malaysia
Established under the Anti-Money Laundering Act 2001 (AMLA)
The Minister of Finance appointed Bank Negara Malaysia as Competent Authority under the AMLA on 15 January 2002
Powers and functions under the AMLA

Share financial intelligence with enforcement agencies
To compile statistics and records pertaining to compliance with AMLA
Make recommendations to the relevant supervisory authorities, enforcement agencies and reporting institutions
Create training requirements and provide training for reporting institutions

and detect financial crimes by gathering and sharing financial intelligence

Purpose
To facilitate the implementation and enforcement of the AMLA nationwide and to co-operate with other countries in the global fight against money laundering and serious crimes.

Managers

Manager

Manager

Senior Executives

Personal Assistant

Admin. Assistant

STRATEGIC DEVELOPMENT

INTELLIGENCE MANAGEMENT

AMLA
Spearhead national efforts in combating money laundering and serious crimes by providing value-added contributions to national and international supervisory/enforcement agencies
Formulate and implement comprehensive national anti-money laundering regime
Promote awareness of money laundering and terrorism financing issues and the AMLA
Act as Secretariat to, and coordinate, the NCC’s initiatives

Offshore Financial Services Authority
Companies Commission of Malaysia

REPORTING INSTITUTIONS

w.e.f. 15/01/2002
Commercial banks
Merchant banks
Finance companies
Islamic banks

w.e.f. 15./04/2002
Discount houses
Insurers
Insurance brokers
Takaful operators
Offshore banks
Offshore insurers
Offshore trust companies

w.e.f 1/06/2002
Money changers

w.e.f 15/01/2003
Pilgrims Fund Board
Pos Malaysia Berhad
Bank Simpanan Nasional
Bank Kerjasama Rakyat Malaysia Berhad
Licensed casino

ENFORCEMENT AGENCIES

Bank Negara Malaysia
Royal Malaysian Police
Royal Malaysian Custom
Anti-Corruption Agency
Companies Commission Of Malaysia
Securities Commission

FOREIGN FIUs

FINANCIAL INTELLIGENCE UNIT

FINANCE MINISTER

w.e.f 31/03/2004
Stockbrokers
Futures brokers

w.e.f 30 September 2004
Lawyers
Accountants
Company Secretaries

Bar Council
Malaysian Institutes of Accountants
Malaysian Institute of Chartered Secretaries and Administrators
Other company secretaries bodies

SELF-REGULATORY ORGANISATIONS

supervisory and regulatory authorities
Agreement sought on the implementation strategies
Guidelines on AML/CFT issued by relevant regulatory and self-regulatory authorities
AMLA briefing sessions
Adequate manpower in the FIU

submitted in a highly confidential manner
FIU deals directly with the compliance officer
Compliance officers protected by civil, criminal or disciplinary actions under the AMLA for reporting STR
Tipping off is an offence under the AMLA
Financial Intelligence System (FINS) to ensure efficient and secure reporting

or Account Statements (when the need arises) from the reporting institutions through secure online environment

To ensure that submitted information is handled with high security and confidentiality without possible means of interruption throughout the transmission

information

Provide input

Analyses information

FIU

RUDY FIASCO

ROYAL MALAYSIAN POLICE

BANK B BERHAD

BANK C BERHAD

MR. JOHN DOE

MR. JOHNNY DOE

MR. JOHNNY DOE

ARRESTED

BANK Y OVERSEAS

MR. RUDY FIASCO

Outward Transfer

legal framework that consists of:
regulatory/ supervisory
compliance
enforcement

controls
Evaluate adequacy and effectiveness of AML/CFT programmes at FIs
Determine compliance with AMLA
Assess adequacy and comprehensiveness of AML/CFT training and education programmes
Recommend corrective actions
Assess AML risk management structure and highlight high risk areas to be reviewed

with training institutes
Collaborate with international bodies for specialised training

institutes

Awareness programme
Training in collaboration with training institutes and international bodies

External

Internal

Specialised training programmes
Training in collaboration with international bodies

International Orgns. (ASEM,APG)

international groups
Benchmarking – compliance with FATF’s 40+9 Recommendations
Information sharing (MoUs)
Mutual legal assistance

trends