Skip to content
mylaw.myby aturio
In forceUpdated to 1 Oct 2015Read it in Bahasa Malaysia
Contents

Part III

36. Operational and governance arrangements

(1)

A licensee shall institute and maintain—

(a)

internal control mechanisms, which include risk management arrangements, accounting procedures and security measures, to ensure the safety and integrity of its money services business;

(b)

governance arrangements which are effective, accountable and transparent to ensure the continued integrity of its money services business operations, and

(c)

adequate procedures to ensure compliance with the

Anti-Money Laundering, Anti-Terrorism Financing and

Proceeds of Unlawful Activities Act 2001 and other written laws, as the Bank may prescribe.

(2)

A licensee who contravenes subsection (1) commits an offence.

Money Services Business 41

Report

Part IV

Remittance Business

Read on from Part IV

Part V

Money Services Business Agents

Read on from Part V

Part VI

Examination

Read on from Part VI

Part VII

Investigation and Enforcement

Read on from Part VII

Part VIII

Other Powers of the Bank

Read on from Part VIII

Part IX

Miscellaneous

Read on from Part IX

Part X

Repeal, Savings and Transitional

Read on from Part X

Schedules