Anti-Money Laundering

Amla Malaysia

Anti-Money Laundering, AntiTerrorism Financing and Proceeds of Unlawful Activities Act 2001 (‘Amla Act’) is the primary price of law and framework governing money laundering in Malaysia. This is to protect the integrity of the financial system, financial services, and financial sector through major financial network players. Anti-money laundering in Malay means ‘pengubahan wang haram’. We, as a law firm in Kuala Lumpur and Malaysia, can help you with a few aspects of it.

Compliance

Malaysian financial institutions in the banking industry such as banks are required to put processes for compliance with the Amla Act and banking legislation and financial regulations such as the Capital Markets and Services Act 2007.

The financial regulators and regulatory authorities oversee these financial systems to combat and reduce the risk of money laundering activities, financial crimes, and leakage of personal data.

One of the regulatory requirements and provisions required by the regulators is for the bank to perform customer due diligence on new customers. If they fail to perform these obligations, they may be hit with penalties and sanctions. Some employment lawyers are familiar with these compliance provisions.

Suspicious financial activities

If there are activities suspected to be money laundering activities through the banks, especially for fintech businesses and technology businesses, the regulatory authorities such as Royal Polis Diraja Malaysia will investigate the matter.

After investigating the financial activities and transactions, especially the flow of money in the bank accounts, the authority may issue an issue freezing or seizure order to prevent any transaction with the assets.

This causes challenges to the account owners which we, as a law firm in Kuala Lumpur and construction lawyer can help you with few approaches.

Court proceeding

If the investigating authority, that is Public Prosecutor thinks the suspicious activity turns out to be criminal activities of money laundering, then it can apply to the courts of our country, that is High Court of Malaya for an order of forfeiture.

The order is to forfeit a list of assets suspected to be obtained from money laundering which can include money in bank accounts. The proceeding follows the rules of the court and can take years. Our litigation lawyer provides these services to challenge these proceedings.

What Our Customer Say

I run an online business and my money of more than RM 10,000,000 was frozen by the police as they claimed it was unlawful money.
I then engaged lawyer Mr. Wen Jie to help us. He listened to our stories and concerns. What touched me was that he went through all of our bank statements one by one to check the banking transactions.
In the end, he managed to get back more than half of the money for us. I will recommend WenJie & Co. for lawyer firm Malaysia as they are competent and professional.