Data and Compliance Report (DCR) is an annual submission to Bank Negara Malaysia (BNM) by reporting institutions (RI) to report and self-assess their compliance with AMLA, Anti-Money Laundering (AML), Countering Financing of Terrorism (CFT), Countering Proliferation Financing (CPF), and Targeted Financial Sanctions (TFS) and identify their exposure to the AML/CFT/CPF and TFS risks.
Menu for DCR 2024: |
WHO needs to submit DCR 2024?
The following sectors are required to submit DCR 2024.
- Accountants
- Company secretaries
- Registered estate agents
- Lawyers and notaries public
- Dealers in precious metals /stones
WHAT should be prepared for DCR submission 2024?
1. Reporting institutions need to appoint a Compliance Officer (CO) and notify your appointed CO to BNM through the link http://amlcft.bnm.gov.my/co/, and ensure to receive the CO number issued by BNM via the firm’s registered email upon successful notification.
If the CO has been notified BNM before and you still have the DCR 2022 account, you can log in with the existing credentials. If you do not have a DCR 2022 account, the “invitation code” will be sent to the registered email of the CO.
2. Prepare relevant information for 2022 and 2023, including:
Part A – Information on reporting institutions (RI)
RI information (including name, type/nature of business, registration/license number), contact information, compliance officer information, branch information, firm size, and membership of associations (if any).
Part B – Business information and structure
Transaction information, payment method by clients, delivery channel (face-to-face and non-face-to-face)
Part C – AML/CFT/CPF risk assessment
- Process or guidance of money laundering, terrorism financing and proliferation financing (ML/TF/PF) risk assessments, such as internal policy, procedure and control (IPPC) or standard operating procedure (SOP)
- Frequency of review, Risk ratings and Risk drivers / risk issues identified
Part D – AML/CFT/CPF programme
- Total number and Breakdown by type and nationality of customers
- AML/CFT/CPF standard operating procedures (SOP) or manual, including the policy, processes or procedures for:
i. Customer Due Diligence (CDD) or Know Your Customer (KYC)
ii. Record keeping
iii. Screening of customers against sanctioned persons/ entities lists
iv. Risk profiling / risk rating for customers
v. Enhanced Due Diligence for higher risk customers
vi. Ongoing Due Diligence
vii. Reporting suspicious transaction (STR)
viii. Storing customers’ information and transactions records - AML/CFT/CPF compliance programme (only for large-sized firms) including AML/CFT/CPF policy & procedures, screening and training of employees, competency and certification/ training attended by Compliance Officer, and independent AML/CFT/CPF audit
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HOW to submit DCR 2024
Follow the step-by-step guide for DCR submission:
Step 1 – Notify the Compliance Officer to BNM
Reporting institutions are required to notify BNM of the appointed Compliance Officer to receive the “invitation code”.
Step 2 – Log in to DCR
Register for access to DCR on DNFBP Portal with the “invitation code” and create an account. If you already have an account, sign in with the registered credentials.
Step 3 – Complete and submit DCR form
Click “New Submission” on DCR Dashboard to start DCR form and then key in details as requested. Click “Submit Application” after completing the form, and the “completed submission message” will be displayed upon submission. You can view the completed submission by clicking “View details” on DCR Dashboard.
Step 4 – Receive DCR report card
A report card will be sent to the firm email and copied to the notified CO email within 72 hours after the submission.
WHEN to submit DCR 2024?
Submission will be from 15 October 2024 to 15 January 2025.
WHAT IF reporting institutions fail to submit DCR?
If reporting institutions fail to submit DCR before the deadline, enforcement action under the AMLA/FSA can be taken.
Learn more:
- Bank Negara Malaysia Portal – Data and Compliance Report (DCR)
- User Guide for Data and Compliance Report 2024
- Data and Compliance Report (DCR) Information Kit
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