‘Data collection rule in tandem with global standards’

JOHOR BARU: A new requirement by Bank Negara has inadvertently caused confusion among the public who think their personal particulars are being collected to be misappropriated, says the Malaysian Association of Money Services Business (MAMSB).

Its chief executive officer K. Raman said the new policy, which is in line with global standards, requires all money-changing businesses to take reasonable measures to adhere to sanctions screening requirements.