Bank Negara Malaysia imposed a compound of RM8,625 on Ilham Secretarial Services for failing to promptly submit a suspicious transaction report, breaching its obligations as a reporting institution under Malaysia’s anti-money laundering and counter-terrorism financing requirements. An on-site examination found that Ilham did not promptly file an STR on irregular transactions involving one customer, which was attributed to inadequate awareness of its reporting responsibilities. Ilham has since established and implemented an STR reporting mechanism to strengthen its AML/CFT controls and paid the compound on 15 December 2025; BNM assessed aggravating and mitigating factors including breach severity, existing controls, past compliance record, and the effectiveness of remedial actions. BNM reiterated it will take supervisory and enforcement action where reporting institutions do not meet AML/CFT legal or regulatory requirements, in line with its published Enforcement Approach.
Bank Negara Malaysia 2026-01-29
Bank Negara Malaysia imposes RM8,625 compound on Ilham Secretarial Services for late suspicious transaction reporting
Bank Negara Malaysia fined Ilham Secretarial Services RM8,625 for failing to promptly submit a suspicious transaction report, violating anti-money laundering and counter-terrorism financing obligations. Following an on-site examination, Ilham implemented a reporting mechanism to enhance compliance, and BNM emphasized its commitment to enforcing AML/CFT requirements.