The compliance cost of Anti-money Laundering Legislation under Malaysia's dual financial system: A survey of bank compliance officers

Wee Pok, Normah Omar, Milind SATHYE

    Research output: Contribution to journalArticle

    Abstract

    We develop our understanding of the regulatory cost burden on banks due to the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA), by surveying 82 compliance officers in Malaysia. The study assumes importance given the dual financial system (conventional and Islamic) enshrined in the Malaysian Central Bank Act 2009.
    Original languageEnglish
    Pages (from-to)80-90
    Number of pages11
    JournalAcademy of Taiwan Business Management Review
    Volume10
    Issue number1
    Publication statusPublished - 2014

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    Malaysia
    Regulatory costs
    Compliance costs
    Burden
    Terrorism
    Legislation
    Financial system
    Central bank
    Financing

    Cite this

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