Malaysian DNFBPs’ Perceptions on Awareness, Perceived Impact and Views on the AML/CFT Requirements

Normah Omar, Razana Johari, Milind SATHYE

    Research output: Contribution to journalArticle

    Abstract

    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.
    Original languageEnglish
    Pages (from-to)595-600
    Number of pages6
    JournalProcedia Economics and Finance
    Volume31
    Issue number2015
    DOIs
    Publication statusPublished - 2015

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    Malaysia
    Accountants
    Terrorism
    Financing
    Lawyers
    Amendments
    Investment climate
    Threat
    Auditors
    Economics

    Cite this

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    title = "Malaysian DNFBPs’ Perceptions on Awareness, Perceived Impact and Views on the AML/CFT Requirements",
    abstract = "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.",
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    Malaysian DNFBPs’ Perceptions on Awareness, Perceived Impact and Views on the AML/CFT Requirements. / Omar, Normah; Johari, Razana; SATHYE, Milind.

    In: Procedia Economics and Finance, Vol. 31, No. 2015, 2015, p. 595-600.

    Research output: Contribution to journalArticle

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    AU - SATHYE, Milind

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