Malaysia first assessment under FATF fifth round signals demand for practical reforms

Malaysia has become the first jurisdiction to receive an assessment under the Financial Action Task Force's (FATF) new fifth mutual evaluation round, with the global anti-money laundering/counter financing of terrorism (AML/CFT) body focusing squarely on the country's effectiveness in fighting illicit fund flows, rather than technical compliance.

By Keith Nuthall

Malaysia has become the first jurisdiction to receive an assessment [1] under the Financial Action Task Force's (FATF) new fifth mutual evaluation round, with the global anti-money laundering/counter financing of terrorism (AML/CFT) body focusing squarely on the country's effectiveness in fighting illicit fund flows, rather than technical compliance.