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BNM - Public Statement by the Financial Action Task Force (FATF) on Money Laundering  print
Bank Negara Malaysia (BNM) has, on 5 March 2018, issued a circular informing Reporting Institutions (RIs) on the Public Statement issued by the FATF on 23 February 2018, on jurisdictions having strategic deficiencies in their Anti-Money Laundering and Counter Financing for Terrorism (AML/CFT) regime.

BNM has advised RIs to conduct enhanced customer due diligence (CDD) for business relationships and transactions with any person from Democratic People's Republic of Korea (DPRK) (North Korea), including those acting on their behalf. In addition to enhanced CDD requirements, the RIs are also required to apply any relevant countermeasures proportionate to the risk, including limiting business relationships and financial transactions with DPRK or its citizens and terminating correspondent relationships with DPRK banks, where necessary.

Please click here for the circular.