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Anti-money laundering legislation in Malaysia: the challenges within

Zul Kepli, Mohd Yazid and Mohd. Yasin, Norhashimah (2015) Anti-money laundering legislation in Malaysia: the challenges within. In: 4th International Conference on Law & Society (ICLAS IV) 2015 , 10th-11th May 2015, Auditorium, Academic Building (UniSZA), Kuala Trengganu.

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This article discusses the legal and regulatory framework currently in place to safeguard the interest of the public, particularly innocent depositors in cases involving Innocent Deposit Taking. The reasons for the rampant and widespread cases of IDT in Malaysia are analyzed, followed by a study on the adequacy of the current legal and regulatory framework. Best practices from other countries are also highlighted. The uniqueness of IDT and the legal dilemma to classify it as money laundering is also covered. The study ends with a series of suggestions and recommendations on how to ensure comprehensive protection for innocent depositors.

Item Type: Conference or Workshop Item (Plenary Papers)
Additional Information: 6861/9260 (ISBN: 978-967-0899-00-8)
Uncontrolled Keywords: anti-money laundering, innocent deposit taking, IDT
Subjects: K Law > KPG Malaysia
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Ahmad Ibrahim Kulliyyah of Laws > Department of Civil Law
Depositing User: Prof. Dr. Norhashimah Mohd Yasin
Date Deposited: 29 May 2015 15:28
Last Modified: 23 May 2016 11:02
URI: http://irep.iium.edu.my/id/eprint/9260

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