BERNAMA – Bank Negara: Need To Strengthen Anti-money Laundering Efforts
KUALA LUMPUR, April 16 (Bernama) — Efforts to strengthen the anti-money laundering and the combating of the financing of terrorism (AML/CFT) regime needs to be intensified to maintain financial stability, according to Bank Negara Malaysia.
Its deputy governor Datuk Zamani Abdul Ghani said robust AML/CFT regimes could benefit individual countries as enhanced financial sector integrity and stability facilitated their integration into the global financial system.
“They will also contribute to more transparent governance and effective fiscal administration,” he said in his keynote address at the International Financial Crime and Terrorism Financing Conference 2009 here today.
Zamani said the lack of AML/CFT regime could contribute to undermine the soundness and stability of financial institutions and systems, discourage foreign investment, and distort international capital flows.
“The global financial crisis amplifies such risks,” he said.
via BERNAMA – Bank Negara: Need To Strengthen Anti-money Laundering Efforts.