AML Introduction

Companies, businesses and other form of business vehicles are susceptible to the abuse of money laundering and terrorist financing. In this context it is paramount important for the corporate communities to understand and take the necessary initiative to work together with the Law Enforcement Agencies including Suruhanjaya Syarikat Malaysia (SSM) to prevent the misuse of legal persons for illegal activities.

Corporations have to ensure that the basic corporate and business information including the information on beneficial ownership are kept as up-to-date as possible and lodge to SSM on timely manner.

Transparency and timely disclosure of corporate information will enable entity like companies and businesses to operate in accordance with the acceptable international best practice and established legal framework; and this is a critical step in combating the misuse of business vehicles by money launderer and terrorist.   

In Malaysia, the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA) is the primary Act enacted to combat the activities of money laundering and terrorist financing.

In light of the importance of the aforesaid subject, SSM has developed a microsite to create awareness amongst the corporate communities. It is hope that the site will provide useful and beneficial information as well as web link to enable companies, businesses and Limited Liability Partnership to kick-start your own internal compliance policy and best practice to prevent your organisation from being misused by criminals.