The Effectiveness of Anti-Money Laundering /Counter Financing of Terrorism Requirements in Fund Management Companies/ Norziaton Ismail Khan ... [et al.]
Anti-Money Laundering / Counter Financing of Terrorism (AML/CFT) broadly encompasses regulatory requirements, acts and guidelines designed to curtail the practice of generating funds through unlawful or criminal activities. Several infringement notices were issued to market intermediaries due to pro...
Saved in:
Main Authors: | , , |
---|---|
Format: | Article |
Language: | English |
Published: |
UiTM Cawangan Sarawak
2021
|
Subjects: | |
Online Access: | https://ir.uitm.edu.my/id/eprint/53384/1/53384.pdf https://ir.uitm.edu.my/id/eprint/53384/ https://ijsmssarawak.com/archive.html |
Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
Institution: | Universiti Teknologi Mara |
Language: | English |
id |
my.uitm.ir.53384 |
---|---|
record_format |
eprints |
spelling |
my.uitm.ir.533842022-01-03T09:11:21Z https://ir.uitm.edu.my/id/eprint/53384/ The Effectiveness of Anti-Money Laundering /Counter Financing of Terrorism Requirements in Fund Management Companies/ Norziaton Ismail Khan ... [et al.] Abdul Jani, Mohamad Asri Zulkifli, Anis Asfarina Ismail Khan, Norziaton Finance and cycles. Financial crises. Convergence (Economics) Malaysia Commercial crimes. Financial crimes. White collar crimes Money laundering Anti-Money Laundering / Counter Financing of Terrorism (AML/CFT) broadly encompasses regulatory requirements, acts and guidelines designed to curtail the practice of generating funds through unlawful or criminal activities. Several infringement notices were issued to market intermediaries due to provision breaches of the guidelines. Although policies and procedures have been tightened up to the level of satisfaction, assessing the effectiveness of AML/CFT legislation is still necessary. The main aim of the study is to examine the independent variables, namely competency level of compliance team members, regulatory compliance and quality of AML/CFT framework that influence the effectiveness of AML/CFT requirements of the compliance officers that are working in FMCs in Malaysia. The Expectancy Theory has been applied to form the framework and to develop the hypotheses. Three hypotheses were developed and tested using the data from 70 samples of FMC's in Malaysia. The result of the study showed that there were significant relationships between the factors analysed in this study. This study will help the financial institutions especially the Fund Management Companies (FMCs) in understanding the factors that influence the effectiveness of AML/CFT requirements and taking necessary action to enhance their internal AML/CFT process and its compliance with the regulations. This would help the FMCs to have effective control of AML/CFT during the on-boarding and ongoing monitoring process. UiTM Cawangan Sarawak 2021-09-30 Article PeerReviewed text en https://ir.uitm.edu.my/id/eprint/53384/1/53384.pdf ID53384 Abdul Jani, Mohamad Asri and Zulkifli, Anis Asfarina and Ismail Khan, Norziaton (2021) The Effectiveness of Anti-Money Laundering /Counter Financing of Terrorism Requirements in Fund Management Companies/ Norziaton Ismail Khan ... [et al.]. International Journal Of Service Management And Sustainability, 6 (2). pp. 1-24. ISSN 2550-1569 https://ijsmssarawak.com/archive.html |
institution |
Universiti Teknologi Mara |
building |
Tun Abdul Razak Library |
collection |
Institutional Repository |
continent |
Asia |
country |
Malaysia |
content_provider |
Universiti Teknologi Mara |
content_source |
UiTM Institutional Repository |
url_provider |
http://ir.uitm.edu.my/ |
language |
English |
topic |
Finance and cycles. Financial crises. Convergence (Economics) Malaysia Commercial crimes. Financial crimes. White collar crimes Money laundering |
spellingShingle |
Finance and cycles. Financial crises. Convergence (Economics) Malaysia Commercial crimes. Financial crimes. White collar crimes Money laundering Abdul Jani, Mohamad Asri Zulkifli, Anis Asfarina Ismail Khan, Norziaton The Effectiveness of Anti-Money Laundering /Counter Financing of Terrorism Requirements in Fund Management Companies/ Norziaton Ismail Khan ... [et al.] |
description |
Anti-Money Laundering / Counter Financing of Terrorism (AML/CFT) broadly encompasses regulatory requirements, acts and guidelines designed to curtail the practice of generating funds through unlawful or criminal activities. Several infringement notices were issued to market intermediaries due to provision breaches of the guidelines. Although policies and procedures have been tightened up to the level of satisfaction, assessing the effectiveness of AML/CFT legislation is still necessary. The main aim of the study is to examine the independent variables, namely
competency level of compliance team members, regulatory compliance and quality of AML/CFT framework that influence the effectiveness of AML/CFT requirements of the compliance officers that are working in FMCs in Malaysia. The Expectancy Theory has been applied to form the framework and to develop the hypotheses. Three hypotheses were developed and tested using the data from 70 samples of FMC's in Malaysia. The result of the study showed that there were significant relationships between the factors analysed in this study. This study will help the financial institutions especially the Fund Management Companies (FMCs) in understanding the factors that influence the effectiveness of AML/CFT requirements and taking necessary action to enhance their internal AML/CFT process and its compliance with the regulations. This would help the FMCs to have effective control of AML/CFT during the on-boarding and ongoing monitoring process. |
format |
Article |
author |
Abdul Jani, Mohamad Asri Zulkifli, Anis Asfarina Ismail Khan, Norziaton |
author_facet |
Abdul Jani, Mohamad Asri Zulkifli, Anis Asfarina Ismail Khan, Norziaton |
author_sort |
Abdul Jani, Mohamad Asri |
title |
The Effectiveness of Anti-Money Laundering /Counter Financing of Terrorism Requirements in Fund Management Companies/ Norziaton Ismail Khan ... [et al.] |
title_short |
The Effectiveness of Anti-Money Laundering /Counter Financing of Terrorism Requirements in Fund Management Companies/ Norziaton Ismail Khan ... [et al.] |
title_full |
The Effectiveness of Anti-Money Laundering /Counter Financing of Terrorism Requirements in Fund Management Companies/ Norziaton Ismail Khan ... [et al.] |
title_fullStr |
The Effectiveness of Anti-Money Laundering /Counter Financing of Terrorism Requirements in Fund Management Companies/ Norziaton Ismail Khan ... [et al.] |
title_full_unstemmed |
The Effectiveness of Anti-Money Laundering /Counter Financing of Terrorism Requirements in Fund Management Companies/ Norziaton Ismail Khan ... [et al.] |
title_sort |
effectiveness of anti-money laundering /counter financing of terrorism requirements in fund management companies/ norziaton ismail khan ... [et al.] |
publisher |
UiTM Cawangan Sarawak |
publishDate |
2021 |
url |
https://ir.uitm.edu.my/id/eprint/53384/1/53384.pdf https://ir.uitm.edu.my/id/eprint/53384/ https://ijsmssarawak.com/archive.html |
_version_ |
1720983245171982336 |