On 3 November 2026, Bank Negara Malaysia (BNM) undertook an enforcement action against Najmuldin Exchanger and Nusantara Global Network for suspected contravention of the Financial Services Act 2013 (FSA), involving the act of advertising the buying and selling of foreign currency without the written approval of BNM.

The enforcement action was undertaken by BNM with the assistance of Polis Diraja Malaysia (PDRM), as part of BNM’s continuous enforcement efforts to safeguard the public against potential financial risks associated with the unauthorised buying and selling of foreign currency. A total of four premises in various parts of Kedah and Perak were searched. Relevant documents, equipment, books and digital devices were seized to facilitate the investigation.

The entities are being investigated under subsection 214(2) read together with paragraph 1(b) of Schedule 14 of the FSA.

Paragraph 1(b) of Schedule 14 of the FSA prohibits any person, from directly or indirectly, advertising the buying or selling of foreign currency unless such person is licensed, authorised or approved in writing by BNM. Pursuant to subsection 214(2) of the FSA, any person who contravenes a prohibition specified in Schedule 14 commits an offence. Any person convicted of an offence under subsection 214(2) of the FSA shall be liable to the penalties prescribed under subsection 214(9) of the FSA, namely imprisonment for a term not exceeding 10 years, or a fine not exceeding RM50 million, or both.

Members of the public are advised to refrain from participating in unlicensed or unregistered entities offering or advertising foreign currency-related services, as this may result in being complicit in illegal activities. For further information on illegal financial schemes and enforcement actions taken by BNM, please refer to bnm.gov.my/enforcement-actions.

Members of the public with information on any person or entity suspected of advertising or facilitating the buying or selling of foreign currency without authorisation may report the matter to BNM at bnm.gov.my/BNMLINK or 1300-88-5465.