KUALA LUMPUR: Bank Negara Malaysia (BNM) has imposed an administrative monetary penalty on four banks, namely Bank Pembangunan Malaysia Bhd (BPMB), HSBC Bank Malaysia Bhd, HSBC Amanah Malaysia Bhd and Maybank Islamic Bhd for various breaches of financial regulations.
In a statement, the central bank said it has imposed an administrative monetary penalty amounting to RM493,500 on BPMB for non-compliance with provisions under the Development Financial Institutions Act 2002 as well as the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions (AML/CFT & TFS) Policy Document.
