Malaysia’s progress in strengthening measures to tackle money laundering and terrorist financing

3rd Follow-Up Report Malaysia - 2018

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Paris, 31 October 2018 - As a result of Malaysia’s progress in strengthening its framework to tackle money laundering and terrorist financing since their 2015 mutual evaluation, the FATF has re-rated the country on 4 of the 40 Recommendations.

Malaysia has been in an enhanced follow-up process, following the adoption of the mutual evaluation, which assessed the effectiveness of the country’s anti-money laundering and counter-terrorist financing (AML/CFT) measures and their compliance with the FATF Recommendations. In line with the FATF Procedures for mutual evaluations, Malaysia has reported to the FATF on the progress it has made to strengthen its AML/CFT framework

This report analyses Malaysia’s progress in addressing the technical compliance deficiencies identified in the mutual evaluation report. 

To reflect this progress, the FATF has re-rated Malaysia on the following Recommendations:

32 – Cash couriers from largely compliant to compliant

34 – Guidance and feedback from largely compliant to compliant

The report also looks at whether Malaysia’s measures meet the requirements of FATF Recommendations that have changed since their 2015 mutual evaluation, taking into account any new measures since the mutual evaluation.

The FATF agreed to re-rate the following Recommendations:

5  - Terrorist financing offence from  largely compliant  to compliant

7 – Targeted financial sanctions related proliferation from partially compliant to compliant

The FATF maintains the ratings of Largely Compliant for Recommendation 8 and Compliant for Recommendations 18 and 21.

 

 

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