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Banks expected to screen customers before opening account


Al-Rajhi Bank chief compliance officer V. Maslamani (center) flanked by the sponsors at the signing for the 10th International Conference on Financial Crime and Terrorism Finance.

Al-Rajhi Bank chief compliance officer V. Maslamani (center) flanked by the sponsors at the signing for the 10th International Conference on Financial Crime and Terrorism Finance.

KUALA LUMPUR: Banks in Malaysia are expected to conduct a screening prior to on-boarding customers with banks to rely on an international database and an internal grey list to conduct such screenings.

This will be the minimum regulatory standard expected of the banks prior to opening an account for a customer, said Al-Rajhi Bank chief compliance officer, V Maslamani (pic).

Corporate News , Banking , biz

   

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