TY - JOUR
T1 - Malaysian DNFBPs’ Perceptions on Awareness, Perceived Impact and Views on the AML/CFT Requirements
AU - Omar, Normah
AU - Johari, Razana
AU - SATHYE, Milind
PY - 2015
Y1 - 2015
N2 - Money laundering and terrorism financing (ML/TF) continues to be an on-going threat which has the potential to adversely affect the country's reputation and investment climate which may lead to economic and social consequences. A 2004 amendment to the Anti-Money Laundering and Anti-Terrorism Financing Act (AMLATFA), 2001 has redefined “Reporting Institutions” (RIs) to include accountants, auditors, lawyers and other selected professionals. Previous studies on the AML/CFT in Malaysia (e.g. Mohamed Ahmad, 2012 and Shanmugam Yhanasegaran, 2008) in general did not specifically address the issue of DNFBPs’ awareness, perceived impact and views on the AML/CFT requirements. Our study is the first in our knowledge to evaluate the understanding on the AML/CFT requirements in Malaysia from the perspective of the accountants.
AB - Money laundering and terrorism financing (ML/TF) continues to be an on-going threat which has the potential to adversely affect the country's reputation and investment climate which may lead to economic and social consequences. A 2004 amendment to the Anti-Money Laundering and Anti-Terrorism Financing Act (AMLATFA), 2001 has redefined “Reporting Institutions” (RIs) to include accountants, auditors, lawyers and other selected professionals. Previous studies on the AML/CFT in Malaysia (e.g. Mohamed Ahmad, 2012 and Shanmugam Yhanasegaran, 2008) in general did not specifically address the issue of DNFBPs’ awareness, perceived impact and views on the AML/CFT requirements. Our study is the first in our knowledge to evaluate the understanding on the AML/CFT requirements in Malaysia from the perspective of the accountants.
KW - Money laundering
KW - Malaysia
KW - Designated Non-financial Businesses and Professions
KW - Anti-Money Laundering
U2 - 10.1016/S2212-5671(15)01146-6
DO - 10.1016/S2212-5671(15)01146-6
M3 - Article
SN - 2212-5671
VL - 31
SP - 595
EP - 600
JO - Procedia Economics and Finance
JF - Procedia Economics and Finance
IS - 2015
ER -
