wmlro.com: Malaysia needs to beef up AMLA: Central Bank
Bank Negara Malaysia Deputy Governor Datuk Zamani Abdul Ghani says that all countries, including Malaysia, need to improve their Anti Money Laundering legislation and enforcement in the light of the financial crisis.
Speaking in Kuala Lumpur recently, Zamani said that Malaysia's government has put in place "a strategic focus" on the national counter-money laundering and anti-terrorist financing regime.
Bank Negara has trained more than 80 financial crime investigators and is recruiting more.
But Malaysia cannot operate alone and therefore "at the international level, Malaysia will continue to enhance multilateral and bilateral relationships," he said.
In a clear warning to the boards of financial institutions, Zamani said ""We expect the board of directors and senior management of institutions to play their roles in ensuring that the compliance programme is fully implemented and that any money laundering and terrorism financing activities are promptly detected and reported."
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