Malaysia’s anti-money laundering law now expressly targets the financing of weapons of mass destruction. The offence is serious, the mental element is wide, and the risk extends well beyond banks to traders, shippers and professional advisers.
Restricted Activity Financing Read More »
When a person or group is listed as a terrorist entity, the effect reaches far beyond the police. Banks, businesses, charities, professionals and ordinary individuals all have legal duties, and serious penalties apply to anyone who deals with listed property.
Terrorism Financing and Specified Entities Read More »
Under the anti-money laundering law, property can be taken permanently by the Government even if no one is ever charged. The rules are strict, but so are the limits, and innocent owners, sellers and third parties have real grounds to resist.
Forfeiture Without Prosecution Under Section 56 Read More »
A freeze or seizure under the anti-money laundering law is meant to be temporary. Knowing how long it can last, what you may ask for and when the courts will step in can help owners protect what is rightfully theirs.
Frozen Accounts Seized Assets Read More »
It is not a crime to travel with a large amount of cash. Failing to declare it, however, can lead to a heavy fine, imprisonment and the loss of the money itself.
Carrying Cash Across Border Read More »
When people think about money laundering, they usually picture banks. But criminals also try to clean their money by buying gold and jewellery, purchasing property, setting up companies or channelling funds through a professional’s client account. For this reason, Malaysian law places a group of businesses and professionals in the front line of the fight against financial crime. These are known as “reporting institutions”.
Suspicious Transaction Reports Read More »
Private Client Service refers to legal work that helps individuals and families manage, protect and pass on their wealth. This includes preparing wills, setting up trusts, administering estates after a death, handling property purchases and transfers, and planning how family businesses and assets will be passed to the next generation.
Many clients are surprised when their lawyer asks detailed questions about their identity, their family members and the source of their money before any work begins. These questions are not a sign of distrust. They are part of the lawyer’s legal duties under Malaysia’s anti-money laundering law.
Private Client Service and Anti-Money Laundering Regulations Read More »
White collar crime, also known as commercial crime, refers to non-violent crimes committed for financial gain, usually in a business, professional or financial setting. Common examples include cheating, criminal breach of trust, corruption, investment fraud, online scams and tax evasion.
WhiteCollar Crime and Money Laundering Read More »
A notice to attend an interview under the anti-money laundering law can arrive even if you have done nothing wrong. Knowing what the law requires of you, and what it protects, can make all the difference.
Called In For Questioning AMLA Read More »
Every day, banks and other businesses in Malaysia quietly report suspicious transactions to Bank Negara Malaysia. What happens to that information, who gets to see it, and how is it kept confidential?
Financial Intelligence Bank Negara Read More »
Messrs. Edward Ng & Partners is an award-winning full-service law firm based in Bukit Bintang, Kuala Lumpur, Malaysia. Led by Lawyer Ng Kee Way, the firm is dedicated to providing high-quality, client-focused legal services with professionalism across various fields of law
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