Bank Negara Malaysia, as the competent authority under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA), and the secretariat to the NCC, played a pivotal role in coordinating nationwide efforts to conduct the National Risk Assessment 2020.
The NRA 2020, is the fourth iteration of a centralised assessment to identify and assess Malaysia’s exposure to money laundering and terrorism financing (ML/TF) risks. It is conducted in accordance with the international best practices and recommendations set out by the Financial Action Task Force (FATF).
In July 2021, the NCC endorsed the results of the NRA 2020. Utilising datasets from 2017 to 2019, the NRA 2020 assessed several areas as follows:
Serious crimes that pose money laundering threats;
Terrorism and terrorism financing risks; and
Vulnerabilities of financial and non-financial sectors to ML/TF risks. Key findings on serious crimes, financial and non-financial sectors.
Source: BNM Annual Report 2021
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