Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) Compliance Officer Essentials
A one-day programme designed for newly appointed or incoming Compliance Officers in Designated Non-Financial Businesses and Professions (DNFBPs) and Non-Bank Financial Institutions (NBFIs). The programme maps directly to the 9 CO duties defined by Bank Negara Malaysia and equips participants to fulfil the fit and proper criteria required for their BNM-registered role.
This is the practitioner programme for a designated compliance officer, and assumes the awareness content. It covers building and running the AML programme rather than only understanding the obligations. Coverage runs through institutional risk assessment, the customer due diligence and enhanced due diligence framework, ongoing monitoring, sanctions and PEP screening, suspicious transaction reporting to the Financial Intelligence and Enforcement Department, and record keeping. The compliance officer's own statutory position and personal exposure are addressed directly, along with how to escalate when business pressure and the AML obligation point in different directions.
Participants leave with the knowledge to notify BNM of their appointment, build an internal AML/CFT compliance programme, evaluate STRs, and prepare their organisation for a BNM supervisory review.
HRD Corp SBL-Khas Claimable
Programme Agenda
8:30 AM - 9:00 AM
Registration, Welcome & Objectives
Participant registration, programme overview, and learning objectives for the day.
9:00 AM - 10:30 AM
Legal Framework and the CO Role
AMLA 2001 purpose, scope, and key definitions, DNFBP and NBFI Reporting Institution categories, the 9 CO duties from BNM's official CO Guide, fit and proper criteria, CO appointment process, nomination form, FIED submission, and personal liability for COs and directors.
10:30 AM - 10:45 AM
Break
10:45 AM - 12:30 PM
AML/CFT Policy, Risk Assessment and Red Flags
What an adequate AML/CFT compliance programme must contain, applying the Risk-Based Approach to assess ML/TF exposure, sector-specific risk factors for property agents, lawyers, accountants, and company secretaries, building a documented red flag list, new product risk assessment, staff awareness obligations, and securing the internal reporting channel.
12:30 PM - 1:30 PM
Lunch
1:30 PM - 3:30 PM
CDD, STR, CTR and Sanctions
Customer Due Diligence, beneficial ownership, Enhanced Due Diligence for high-risk customers and PEPs, ongoing CDD for DNFBPs, Suspicious Transaction Reports, Cash Threshold Reports, Targeted Financial Sanctions, sanctions screening against Domestic and UN Sanctions Lists, and record keeping requirements.
3:30 PM - 3:45 PM
Break
3:45 PM - 5:00 PM
Controls Assessment and BNM Inspection Readiness
Assessing AML/CFT controls against BNM expectations, common gaps in DNFBP supervisory reviews, building a CO compliance calendar with monthly, quarterly, and annual tasks, and a 30-day CO action plan for Day 1 in role.
Wrap-up, Q&A & Certificates
5:00 PMProgramme wrap-up, open Q&A session, and certificate presentation.
Key Outcomes
- Explain the legal framework under AMLA 2001 and BNM's AML/CFT Policy Documents for DNFBPs and NBFIs
- Fulfil all 9 CO duties as defined by BNM's official CO Guide
- Complete and submit the BNM CO Nomination Notification Form correctly
- Build and document an internal AML/CFT compliance programme proportionate to the organisation's risk profile
- Identify red flags, evaluate suspicious transactions, and file STRs and CTRs to BNM
- Prepare the organisation for a BNM DNFBP supervisory review
Training Mode Physical / Online / Hybrid / e-learning
HRD Corp SBL-Khas Claimable
Level Intermediate, suitable for newly appointed COs and those seeking to fulfil BNM's fit and proper criteria
Duration 1 Day | 8:30 AM - 5:00 PM
Venue Online session or in-house training at client's premises
Assessment Written knowledge check, 70% pass mark required. One resit permitted within 14 days.
Certificate Certificate of Completion awarded upon successful assessment and full attendance