Uploaded byNurul Amira
Amla traning (2014) 180714
The document outlines the concepts of money laundering and terrorism financing, detailing the legal framework and consequences in Malaysia under the Anti-Money Laundering and Anti-Terrorism Financing Act 2001. It describes the stages of money laundering: placement, layering, and integration, as well as the importance of customer due diligence and identifying high-risk clients. Compliance procedures and the role of various authorities in enforcing these regulations are also emphasized.
In this document
Powered by AI
Quotes on crime and introduction to compliance in AmanahRaya Investment Management.
Definitions of money laundering (illegally obtained funds) and terrorism financing (funding terrorist activities).
Outline of punishments for money laundering and terrorism financing, including fines and imprisonment.
Overview of the Anti-Money Laundering and Anti-Terrorist Financing Act (AMLATFA) 2001 and roles of authorities and law enforcement.
Detailed stages of money laundering: Placement (cash movement), Layering (transactions without a trace), Integration (merging illegal money with the economy).
Implementation of AML policies including Know Your Customer (KYC) procedures, risk assessments, and examples of high and low-risk clients.
Characteristics of suspicious transactions, including irregular account activities and abnormal financial behaviors.
Importance of maintaining records related to compliance, and an open floor for questions.
More Related Content
Similar to Amla traning (2014) 180714
Amla traning (2014) 180714
- 1. “Behind every great fortunethere is a crime” Honore de Balzac
- 2. Compliance Department AmanahRaya InvestmentManagement Sdn Bhd 2 &TERRORISM FINANCING
- 3. WHAT IS MONEYLAUNDERING?! Compliance Department AmanahRaya Investment Management Sdn Bhd 3 Disguised illegally obtained money from unlawful activity
- 4. Compliance Department AmanahRaya InvestmentManagement Sdn Bhd 4 WHAT IS FINANCING TERRORISM?! Process of financing terrorist activity either through legitimate or illegitimate source
- 5. 5 PUNISHMENT?! Compliance Department AmanahRaya InvestmentManagement Sdn Bhd Fine; 500,000.00 or to imprisonment not exceeding five (5) years or both.
- 6. Compliance Department AmanahRaya InvestmentManagement Sdn Bhd 6 OVERVIEW OF AML/CFT REGIME IN MALAYSIA KEY LEGISLATION: Anti-Money Laundering and Anti-Terrorist Financing Act (AMLATFA) 2001
- 7. Compliance Department AmanahRaya InvestmentManagement Sdn Bhd 7 OVERVIEW OF AML/CFT REGIME IN MALAYSIA COMPETENT AUTHORITY: Bank Negara Malaysia
- 8. Compliance Department AmanahRaya InvestmentManagement Sdn Bhd 8 OVERVIEW OF AML/CFT REGIME IN MALAYSIA LAW ENFORCEMENT AGENCIES: Jabatan Kastam Diraja Malaysia BNM KPDNKK MITI SSM SC LHDN SPRM PDRM
- 9. Money Laundering Process ComplianceDepartment AmanahRaya Investment Management Sdn Bhd 9 MONEY LAUNDERING PROCESS First Stage : Placement Cash movement. Examples: financial institutions, casinos, shops, bureau de and other businesses, both local and abroad
- 10. Compliance Department AmanahRaya InvestmentManagement Sdn Bhd 10 MONEY LAUNDERING PROCESS ‘Without a trace’. Examples: Buy assets then sold assets previously Second Stage : Layering
- 11. Compliance Department AmanahRaya InvestmentManagement Sdn Bhd 11 MONEY LAUNDERING PROCESS Integrating illegal money into the normal legitimate economy. Examples: Buying share in a company. Third Stage : Integration
- 12.
- 13. HOW ARIM IMPLEMENTS AMLA/TF? ComplianceDepartment AmanahRaya Investment Management Sdn Bhd 13
- 14. KNOW YOUR CUSTOMERSTANDARD PROCEDURE Compliance Department AmanahRaya Investment Management Sdn Bhd 14
- 15. Compliance Department AmanahRaya InvestmentManagement Sdn Bhd 15 DUE DILIGENCE PROCESS
- 16. Compliance Department AmanahRaya InvestmentManagement Sdn Bhd 16 Note # 2- Customer Due Diligence (“CDD”) Examples of High Risk Clients Politically exposed persons (PEPs) as well as persons or companies clearly related to them
- 17. Compliance Department AmanahRaya InvestmentManagement Sdn Bhd 17 Note # 2- Customer Due Diligence (“CDD”) Examples of High Risk Clients Customers from locations known for its high crime rate
- 18. Compliance Department AmanahRaya InvestmentManagement Sdn Bhd 18 Note # 2- Customer Due Diligence (“CDD”) Examples of High Risk Clients Non-resident customers
- 19. Compliance Department AmanahRaya InvestmentManagement Sdn Bhd 19 Note # 2- Customer Due Diligence (“CDD”) Examples of High Risk Clients customers from countries or jurisdictions without or with inadequate AML/CTF laws and ..regulations as highlighted by the FATF
- 20. Compliance Department AmanahRaya InvestmentManagement Sdn Bhd 20 Note # 2- Customer Due Diligence (“CDD”) Examples of Low Risk Clients
- 21. Compliance Department AmanahRaya InvestmentManagement Sdn Bhd 21 Note # 2- Customer Due Diligence (“CDD”) Examples of Low Risk Clients Public companies
- 22. Compliance Department AmanahRaya InvestmentManagement Sdn Bhd 22 Note # 2- Customer Due Diligence (“CDD”) Examples of Low Risk Clients Public companies Financial Institutions
- 23. 23 Note # 3-Suspicious Transactions Compliance Department AmanahRaya Investment Management Sdn Bhd Examples of Suspicious Transaction Irregular Account Movement
- 24. 24 Note # 3-Suspicious Transactions Compliance Department AmanahRaya Investment Management Sdn Bhd Examples of Suspicious Transaction Transactions Incompatible vs Customer’s Financial Standing
- 25. Compliance Department AmanahRaya InvestmentManagement Sdn Bhd 25 Note # 4- Record Keeping Maintain records
- 26.