A press release from Bank Negara Malaysia (BNM), Malaysisa’s central bank, stated that the “Anti-Money Laundering and Counter Financing of Terrorism Policy for Digital Currencies” went into effect as of February 27, 2018. It had been introduced as a draft in December 2017.
Reporting institutions are required to conduct customer due diligence on all customers and the persons conducting the transaction when the reporting institution establishes business relationship with a customer and when the reporting institutions have any suspicion of money laundering or terrorism financing.
The reporting institution is required to obtain at least the following information: (a) full name; (b) National Registration Identity Card (NRIC) number or passport number or reference number of any other official documents bearing the photograph of the customer or beneficial owner; (c) residential or mailing address; (d) date of birth; (e) nationality; and (f) purpose of transaction.
