PREVENTION OF TERRORISM FINANCING

One of the efforts by the Government of Malaysia in combating terrorism is through the freezing of assets to prevent terrorism financing. This action involves listing individuals and groups involved in terrorist activities. The assets belonging to the listed individuals and groups will then be frozen.

There are three sanction lists that contain the names of individuals and groups whose assets must be frozen, namely:

i) UNSCR 1267 List – Maintained by the United Nations Security Council 1267 Committee (available in PDF, XML, and HTML formats)

ii) UNSCR 1988 List – Maintained by the United Nations Security Council 1988 Committee (available in PDF, XML, and HTML formats)

iii) MOHA List – Maintained by the Ministry of Home Affairs (available in PDF format)

Reporting Institutions (Schedule 1, Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 – Act 613) are required to screen and compare the names of individuals and groups in their databases against these lists.

If there is a match with any individual or group, the Reporting Institution must immediately freeze the assets belonging to that individual or group and report the matter to the relevant Regulatory and Supervisory Authority. In addition, if assets have been frozen, the Reporting Institution is also required to report any suspicious transactions to the Financial Intelligence and Enforcement Department, Bank Negara Malaysia.