- Malaysian NPOs have no ongoing strategy to identify and mitigate anti-money laundering and counter-financing of terrorism (AML/CFT)
- There has been limited outreach program to inform NPOs of the what, why, when, who and how of Money Laundering and Terrorism Financing.
- There has been inadequate information exchange between Malaysia and its international counterparts.
Thursday, July 26, 2012
ARI-ROS Research on NPOs
Following the recommendation made by the Financial Intelligence Unit (FIU) of Bank Negara Malaysia, the Accounting Research Institute (ARI) embarked on a research project on Non-Profit Organizations (NPOs) in Malaysia. The interest in NPOs resulted from the the APG ( Asia-Pacific Group on Money Laundering) Mutual Evaluation report in 2007. The report gave Malaysia a "Partial Compliance" rating for its governance of anti-money laundering and counter-financing of terrorism on NPOs. Specifically, three reasons given for such rating were namely: