On 10 September 2026, Bank Negara Malaysia (BNM) imposed administrative monetary penalties (AMP)^[1] of RM276,000 each on AmBank (M) Berhad (AmBank) and AmBank Islamic Berhad (AmBank Islamic) (collectively referred to as AmBank Group) for failure to promptly submit cash threshold reports (CTR).^[2]

As reporting institutions (RIs), AmBank Group is required to promptly submit CTR to BNM.^[3] This provides BNM and other law enforcement agencies with valuable information to support financial crime investigations. Prompt submission of CTR mitigates the risk of RIs from being used as channels for money laundering and terrorism financing (ML/TF), and other criminal activities.

The breaches were identified through AmBank Group’s review of its transaction and regulatory reporting records. AmBank Group discovered that it had failed to submit CTR to BNM for multiple transactions, attributed to lapses in its technology implementation arising from inadequate oversight on system changes.

AmBank Group has since taken remedial measures, including to submit the omitted CTR to BNM, enhance its standard operating procedures and systems, and strengthen its control frameworks and oversight. 

In deciding the AMP to be imposed, relevant aggravating and mitigating factors were considered. These include the severity of the breaches and AmBank Group’s: 

1. lack of reasonable care in ensuring compliance with the anti-money laundering, countering financing of terrorism and countering proliferation financing (AML/CFT/CPF) requirements;
2. past compliance record; and
3. post-misconduct behaviour, including self-reporting of the breaches by AmBank Group and the effectiveness of remedial measures to prevent recurrence of the breaches.

On 22 September 2026, AmBank and AmBank Islamic each paid RM276,000 for the AMP imposed by BNM.

BNM requires all RIs to maintain a high level of commitment in ensuring compliance with AML/CFT/CPF requirements. BNM will not hesitate to take appropriate supervisory and/or enforcement actions should any RI fail to meet any legal and/or regulatory requirements.

The enforcement actions taken against AmBank Group are in line with the approach and processes outlined in BNM’s published Enforcement Approach.

^{[1] BNM imposed the AMP pursuant to section 234(3)(b)(i) of the Financial Services Act 2013 (FSA) and section 245(3)(b)(i) of the Islamic Financial Services Act 2013 (IFSA).}

^{[2] For AmBank, these requirements are set out under section 48(1)(a) of the FSA read together with paragraph 30.1.1 of the Anti-Money Laundering and Counter Financing of Terrorism – Banking and Deposit-Taking Institutions (Sector 1) Policy Document (AML/CFT Sector 1 PD), paragraph 21.4.3 of the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions Policy Document (AML/CFT and TFS for FIs PD) and paragraph 21.4.3 of the Anti-Money Laundering, Countering Financing of Terrorism, Countering Proliferation Financing and Targeted Financial Sanctions for Financial Institutions Policy Document (AML/CFT/CPF and TFS for FIs PD).}

^{For AmBank Islamic, these requirements are set out under section 58(1)(a) of the IFSA read together with paragraph 30.1.1 of the AML/CFT Sector 1 PD, paragraph 21.4.3 of the AML/CFT and TFS for FIs PD and paragraph 21.4.3 of the AML/CFT/CPF and TFS for FIs PD.}

^{Note: The AML/CFT Sector 1 PD was in effect from 16 September 2013 to 31 December 2019 and was superseded by the AML/CFT and TFS for FIs PD, which was in effect from 1 January 2020 to 5 February 2024. The AML/CFT and TFS for FIs PD has been superseded by AML/CFT/CPF and TFS for FIs PD which came into effect on 6 February 2024.}

^{[3] RIs are required to submit CTR to BNM within 5 working days from the date of the transaction.}