The Central Bank of Malaysia (BNM) reported enforcement action against Najmuldin Exchanger and Nusantara Global Network over suspected advertising of foreign currency buying and selling without its written approval. The operation, conducted on Nov. 3, 2026, with assistance from the Royal Malaysia Police, involved searches of four premises in Kedah and Perak. Documents, equipment, books and digital devices were seized to support the investigation. The entities are being investigated under subsection 214(2), read with paragraph 1(b) of Schedule 14, of the Financial Services Act 2013. These provisions prohibit directly or indirectly advertising foreign currency buying or selling unless the advertiser is licensed, authorised or approved in writing by BNM. A conviction carries a maximum prison term of 10 years, a fine of up to MYR 50 million, or both.
Central Bank of Malaysia reports action against two entities over suspected unauthorised foreign currency advertising
The Central Bank of Malaysia is investigating Najmuldin Exchanger and Nusantara Global Network for allegedly advertising foreign currency buying and selling without written approval. The Nov. 3, 2026, enforcement operation covered four premises in Kedah and Perak, with records and devices seized. Conviction under the relevant provisions of the Financial Services Act 2013 can result in up to 10 years in prison, a fine of up to MYR 50 million, or both.