AML/CFT Policy
Maybank Group is at the forefront of the Government and Bank Negara Malaysia's continuous initiatives and efforts in the prevention of the use of the banking system for illicit, laundering and terrorism financing activities.
The Group demonstrates its commitment to high standards of compliance with the Anti-Money Laundering/Counter Financing of Terrorism (AML/CFT) requirements by establishing a comprehensive policy, procedures, processes and systems for the prevention and detection of money laundering and terrorist financing activities.
The AML/CFT programme is subject to periodic reviews to ensure that it remains robust and complies with the requirements of the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA 2001) as well as its AML/CFT-related guidelines.
Key measures undertaken in Maybank Group include having in place the following:
- Policy and procedures which outline the roles and responsibilities as well as establish clear accountability of all employees within the Group. These policy and procedures are subject to periodic reviews;
- Customer Due Diligence measures which emphasise the importance of ascertaining the customer's identity and establishing the ultimate economic beneficiary via documentary and/or non-documentary mechanisms;
- On-going monitoring of customer transactions through management information systems that enable the detection and reporting of suspicious activities to the Financial Intelligence Unit, Bank Negara Malaysia on a timely basis;
- Provision of full and timely disclosure of suspicious transactions/circumstances to the relevant authorities as provided under all applicable laws/respective jurisdictions;
- Record keeping of all identification/transaction details obtained for the purpose of customer identification as well as of all documents in accordance with statutory requirements; and
- Regular AML/CFT employee communication and training programmes through various channels to raise awareness at all levels within the Group.
Entities within the Group, regardless of geographic locations, are committed to ensuring compliance with the Group-wide AML/CFT Policy as well as applicable AML/CFT legislations within the jurisdiction they operate.
The Group will provide all possible assistance to enforcement agencies and competent authority in the investigation of money laundering and/or financial crime.
