QMSB obliged to undertake preventive measures to avoid money laundering, terrorism financing activities - Bank Negara

KUALA LUMPUR: As a reporting institution, Quantum Metal Sdn Bhd (QMSB) is obliged to undertake measures to prevent its activities from being misused as a conduit for money laundering or terrorism- financing activities, said Bank Negara Malaysia (BNM) today.

However, being a reporting institution does not mean that QMSB’s products and business activities, such as gold products and trading, were registered, approved or licensed under laws administered by BNM, added the central bank.