Bank Negara Malaysia (BNM) imposed a compound of RM46,000 on Boardroom Corporate Services Sdn. Bhd. for failing to promptly submit a suspicious transaction report (STR) and for failing to conduct enhanced customer due diligence (EDD) under applicable anti-money laundering and counter-terrorism financing requirements. An on-site examination found Boardroom did not promptly file an STR for a customer that matched its internal “red flags”, and did not perform EDD on one high-risk customer and two customers receiving nominee services. BNM cited inadequate awareness of reporting institution responsibilities as the cause, noted remedial steps including a review of higher-risk customer profiles and transactions and strengthened EDD documentation and record-keeping, and stated it considered aggravating and mitigating factors such as the severity of breaches, control weaknesses, compliance history and post-misconduct actions; the compound was paid on 16 December 2025.
Bank Negara Malaysia 2026-01-29
Bank Negara Malaysia imposes RM46,000 compound on Boardroom Corporate Services for suspicious transaction reporting delays and enhanced due diligence failures
Bank Negara Malaysia fined Boardroom Corporate Services Sdn. Bhd. RM46,000 for failing to promptly submit a suspicious transaction report and conduct enhanced customer due diligence, citing inadequate awareness of reporting responsibilities and noting remedial actions taken.