Overview FATF Recommendations and domestic legislation require financial institutions and their supervisors to identify, assess and understand the ML and TF risks they face and to take effective actions to mitigate those risks. The purpose of these requirements is to focus AML strategies and compliance efforts where the risks are higher, and at the same…

Overview The IFRS 9 or the Malaysian counter part MFRS 9 have been implemented as of the first quarter of 2018. According to a report, IFRS 9 requires more timely recognition of credit losses under the expected credit loss model. There are also a minimum loss allowance of 1% that has to be set aside…