Circular No 226/2020
Dated 11 July 2020

To Members of the Malaysian Bar

Information on Suspicious Transaction Report from Bank Negara Malaysia

Bank Negara Malaysia (“BNM”) has prepared an infographic and a video to assist reporting institutions to understand and implement the obligation with regard to suspicious transaction report (“STR”).

Suspicious transaction refers to any transaction (including attempted or proposed), regardless of the amount, that:

(1) appears unusual;
(2) has no clear economic purpose;
(3) appears illegal;
(4) involves proceeds from an unlawful activity or instrumentalities of an offence; or
(5) indicates that the customer is involved in money laundering or terrorism financing.

Please click the following to view the infographic, video and newsletter from BNM, on STR:

(1) Here, to download the infographic on suspicious transaction report;
(2) Here, to watch the video on suspicious transaction report; and
(3) Here, to download BNM’s newsletter.

On a related matter, for reporting institutions that have yet to respond to the National Risk Assessment (“NRA”) Perception Survey, please note that the deadline to submit the response to the survey has been extended to 15 July 2020 (Wednesday).

Should you have any enquiries, please contact BNM by telephone at 1-300-88-5465 or by email at fied@bnm.gov.my.

Thank you.

A G Kalidas
Secretary
Malaysian Bar