AMLA training in Malaysia refers to formal training programs developed to educate professionals, particularly those in financial institutions and designated non-financial businesses and professions (DNFBPs), about the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (commonly known as AMLA 2001).
These AMLA training courses cover key areas such as the legal and regulatory framework under AMLA, customer due diligence (CDD), risk-based approaches, suspicious transaction reporting (STR), record-keeping obligations, and techniques for identifying and mitigating risks related to money laundering and terrorism financing. The training will ensure compliance with Bank Negara Malaysia’s (BNM) guidelines and to strengthen the country’s overall financial integrity.
Anti-Money Laundering Act (AMLA) Training in Malaysia
Why Is AMLA Training Important in Malaysia’s Financial Sector?
AMLA training is important in Malaysia’s financial sector for 3 key reasons:
- Regulatory Compliance – Malaysia, under the oversight of Bank Negara Malaysia (BNM), adheres to the stringent standards set by the Financial Action Task Force (FATF). AMLA training ensures financial institutions fully understand and apply these standards, helping them meet legal obligations and avoid regulatory breaches.
- Penalty Avoidance – Trained staff are better equipped to detect and report suspicious activities, reducing the risk of non-compliance, which can lead to hefty fines or legal sanctions by BNM.
- Risk Mitigation – Proper training empowers personnel to recognize and assess risks related to money laundering and terrorism financing, ensuring transaction monitoring is effective and timely.
In 2022, BNM’s Financial Intelligence Unit received approximately 250,000 suspicious transaction reports (STRs), which is a 30% increase from the previous year. It reflects the ongoing challenges in financial crime detection and the growing need for trained compliance team.
Who Governs AMLA Compliance in Malaysia?
In Malaysia, AMLA compliance is primarily governed by Bank Negara Malaysia (BNM), which serves as the main regulatory authority and acts as the country’s Financial Intelligence Unit (FIU). BNM issues AML/CFT policy documents, supervises compliance by financial institutions, and manages suspicious transaction reports (STRs). The Securities Commission Malaysia (SC) also enforce anti-money laundering regulations within the capital markets sector, including brokers, fund managers, and virtual asset service providers. The Labuan Financial Services Authority (Labuan FSA) oversees AMLA compliance for entities operating within the Labuan International Business and Financial Centre.
Under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA), all reporting institutions such as banks, insurance companies, legal firms, accounting firms, and other designated non-financial businesses and professions (DNFBPs), are required to establish robust compliance programs. These include customer due diligence, record-keeping, internal controls, and staff training. Non-compliance with AMLA can lead to serious consequences. Section 4(1) of the Act stipulates that individuals found guilty of money laundering offenses may face imprisonment for up to 15 years and a fine of either RM5 million or five times the value of the proceeds of the unlawful activity, whichever is higher.
What Are the Key Components of AMLA Training?
AMLA training includes customer due diligence (CDD), suspicious transaction reporting (STR), and risk assessment methodologies. For example, participants learn to identify red flags such as rapid fund movements or inconsistent client profiles. Courses often incorporate case studies from Malaysian enforcement agencies, like the Malaysian Anti-Corruption Commission (MACC). Beow is the key components of AMLA training:
- Customer Due Diligence (CDD), Enhanced and Ongoing CDD
Participants are trained to verify customer identities, understand beneficial ownership structures, and apply enhanced due diligence for high-risk individuals such as politically exposed persons (PEPs). They are also taught how to conduct ongoing monitoring of customer transactions. - Suspicious Transaction Reporting (STR)
The training covers how to identify red flags that may indicate suspicious activity, such as unusually rapid fund movements or client profiles that are inconsistent with their financial behavior. It also includes instruction on the internal escalation process and how to submit STRs in compliance with regulatory requirements. - Risk Assessment Methodologies
A core component of AMLA training is understanding and applying a risk-based approach. This includes assessing the level of risk at both the customer and organizational level and implementing appropriate risk mitigation measures. - Targeted Financial Sanctions Screening
Professionals are taught how to screen customers and transactions against relevant sanctions and watchlists, and how to escalate and manage hits from PEP or sanctioned entity databases. - Use of Case Studies and Red Flag Scenarios
Real-world examples are commonly used in training, often referencing enforcement cases and guidance from Malaysian agencies such as the Malaysian Anti-Corruption Commission (MACC) and Bank Negara Malaysia. These case studies help illustrate how AML failures occur and what best practices should be adopted. - Record-Keeping and Reporting Accuracy
Proper documentation is emphasized, with guidance on how long records must be kept, how they should be maintained, and the importance of accuracy in compliance reporting.
How Does AMLA Training Address Technology Trends?
Modern AMLA training emphasizes cutting-edge technologies, particularly AI-driven transaction monitoring and blockchain analytics. Tools like NICE Actimize, integrated often via partnerships like PwC’s, and SAS AML are commonly featured to demonstrate real-time fraud detection through behavioral analytics and machine learning.
Blockchain analysis is increasingly covered to enable detection of suspicious on-chain activity, reflecting Malaysia’s growing focus on digital assets. Bank Negara Malaysia’s Financial Intelligence Unit also champions digital STR submission methods and has actively promoted technological innovation, evidenced by its hosting of an AML/CFT hackathon, to advance AML capabilities.
Where Can Organizations Access Certified AMLA Training?
Organizations in Malaysia can access certified AMLA (Anti-Money Laundering Act) training through reputable providers that offer globally recognized programs such as ACAMS and ICA. These courses vary in duration, depth, and pricing, depending on the certification level and training format. Below is the list to get certified in AMLA:
- PwC Malaysia – Through its Governance & Risk Academy, PwC offers AML/CFT training modules tailored for professionals in compliance, HR, legal, and finance. Programs include short courses like the “Introduction to Anti-Money Laundering,” which lasts around 2.5 hours. Custom training sessions are also available, with pricing dependent on delivery format and scope.
- ACAMS (Association of Certified Anti-Money Laundering Specialists) – ACAMS offers the Certified Anti-Money Laundering Specialist (CAMS) certification, which includes self-paced study, a one-day virtual or in-person training, and a 3.5-hour exam. The CAMS package costs approximately USD 1,595 (about RM7,400), with additional certificate modules priced between USD 595 and USD 795.
- ICA (International Compliance Association) – The ICA’s AML programs are delivered in Malaysia via the Asian Institute of Chartered Bankers (AICB). The ICA Certificate in AML typically involves 40 hours of blended online and live virtual learning. Course fees are around GBP 730 (~RM4,200), with an additional GBP 185 (~RM1,060) for ICA membership.
Deloitte Malaysia, while active in compliance advisory services, does not publicly list direct delivery of ACAMS or ICA training programs. Course durations can range from short 2.5-hour sessions to multi-week programs. Most certification fees fall between RM4,000 and RM8,500 depending on the provider and level.
What Are the Consequences of Ignoring AMLA Training?
In early 2025, Bank Negara Malaysia (BNM) took enforcement actions against four financial institutions for failures related to anti-money laundering and counter financing of terrorism (AML/CFT) compliance. The affected institutions were HSBC Bank Malaysia Berhad, HSBC Amanah Malaysia Berhad, Malayan Banking Berhad (Maybank Islamic), and Bank Pembangunan Malaysia Berhad. The total fines imposed amounted to approximately RM5 million.
These penalties were issued for breaches involving delayed or inadequate reporting of suspicious transactions and weaknesses in AML/CFT controls. This enforcement underscores the critical importance of proper AMLA training for compliance officers and frontline staff. Organizations that neglect such training expose themselves to legal sanctions, reputational harm, and operational setbacks, especially when they fail to meet regulatory expectations set under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
How Can Companies Implement Effective AMLA Training?
Firms should conduct annual risk assessments, enroll staff in BNM-approved workshops, and adopt AML software for continuous monitoring. For instance, Maybank mandates quarterly AML refreshers for its frontline employees.
For customized corporate training solutions, explore Majikan.my, a platform connecting businesses with certified AMLA training providers in Malaysia. It offers curated programs, salary benchmarks, and talent development tools to strengthen compliance frameworks.