MALAYSIA IMPOSES AML CONTROLS ON VIRTUAL CURRENCIES
December 1st, 2017
BANK Negara Malaysia, Malaysia’s central bank, has issued draft rules on reporting obligations for digital currency exchanges to ensure they guard against being exploited by money launderers and terrorist financiers. This includes obligations to report suspicious transactions to Malaysia’s financial intelligence unit (FIU) and to better inform potential customers of risks associated with using digital currencies. Malaysia’s FIU is within the financial intelligence and enforcement department in Bank Negara Malaysia. The proposed extension of reporting ...
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