Malaysia: Financial Watchdog Deepens E-KYC Regulation

Date published: Monday, October 19th 2020

On June 30, 2020, the Bank Negara Malaysia (BNM), the central bank of Malaysia, published a Policy Document on Electronic Know Your Customer (e-KYC). The paper and the enclosed FAQ applies to a variety of entities under the BNM's supervisory scope, including licensed money-changing operators, licensed remittance service providers and approved non-bank issuers of designated payment instruments and designated Islamic payment instruments.