Anti-Money Laundering, Anti-Terrorism Financing, Anti-Restricted Activity Financing and Proceeeds of Unlawful Activities Act 2001 · Updated to 1 Mar 2026 · Part IV · Reporting Obligations
18. Opening of account or conducting business relationship, transaction or activity in fictitious, false or incorrect name
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open, operate or authorize the opening or the operation of an account; or
*NOTE—The provisions of section 18 of the Act shall be invoked in respect of persons licensed to carry on money services business as defined in the Money Services Business Act 2011 [Act 731]
see P.U. (A) 144/2014 which comes into operation on 27 May 2014.
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establish, conduct or perform any business relationship, transaction or activity, with a reporting institution in a fictitious, false or incorrect name.
Where a person is commonly known by two or more names, the person shall not use one of those names when—
opening, operating or authorising the opening or operation of an account; or
establishing, conducting or performing any business relationship, transaction or activity, with a reporting institution unless the person has previously disclosed the other name or names to the reporting institution.
Where a person using a particular name in his dealings with a reporting institution discloses to it a different name or names by which he is commonly known, the reporting institution, or the director, officer or employee of the reporting institution shall make a record of the disclosure, and shall, upon request in writing from the competent authority, give the competent authority a copy of that record.
For the purposes of paragraphs (1)(a) and (2)(a)—
a person opens an account in a fictitious, false or incorrect name if that person, in opening the account, or becoming a signatory to the account, uses a name other than a name by which the person is commonly known;
a person operates an account in a fictitious, false or incorrect name if that person does any act or thing in relation to the account (whether by way of making a deposit or withdrawal or by way of communication with the reporting institution concerned or otherwise) and, in doing so, uses a name other than a name by which the person is commonly known; and
an account is in a false name if it was opened in a fictitious, false or incorrect name, whether before or after the commencement of this section.
Anti-Money Laundering, Anti-Terrorism 41
Financing, Anti-Restricted Activity Financing and Proceeds of Unlawful Activities
For the purpose of paragraphs (1)(b) and (2)(b)—
a person establishes a business relationship, transaction or activity in a fictitious, false or incorrect name if that person, in establishing such business relationship, transaction or activity, or becoming a signatory to any agreement or arrangement, uses a name other than a name by which the person is commonly known;
a person conducts or performs a business relationship, transaction or activity in a fictitious, false or incorrect name if that person does any act or thing in relation to such business relationship, transaction or activity (whether by way of communication with the reporting institution concerned or otherwise) and, in doing so, uses a name other than a name by which the person is commonly known; and
a business relationship, transaction or activity is in a false name if it was established in a fictitious, false or incorrect name, whether before or after the commencement of this section.
For the purposes of subsections (1), (2) and (3), the competent authority may issue any directions, instruction, guideline, circular, standard, notice, specification or requirement to, or impose any condition on, a reporting institution, or the director, officer or employee of the reporting institution on the opening of account or conducting business relationship, transaction or activity in fictitious, false or incorrect name.
The reporting institution, or the director, officer or employee of the reporting institution shall comply with the directions, instruction, guideline, circular, standard, notice, specification or requirement issued, or the condition imposed under subsection (5A).
Any person who contravenes this section commits an offence and shall on conviction be liable to a fine not exceeding three million ringgit or to imprisonment for a term not exceeding five years or to both.
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