Bank Negara assures adequate supply of currencies by licensed money changers

PETALING JAYA: Bank Negara Malaysia (BNM) has assured that the currency theft incident reported recently has not affected the overall supply of currencies by money changers to meet public demand.
Consumers can continue to obtain and exchange foreign currencies at licensed money changers located throughout the country, BNM said in a statement today.
The central bank said the affected money changer and currency wholesalers have lodged police reports, and the case is currently under the investigation of the Royal Malaysian Police.
BNM said it is separately conducting an independent review of the incident to determine if there were any breaches of regulations by the licensed money changers and currency wholesalers, noting appropriate enforcement actions will be taken if a breach is established.
Meanwhile, it said it continues to closely monitor the effectiveness of controls and risk mitigations implemented by licensed money service businesses to ensure the reliable and efficient provision of currency exchange services.
"An increasing number of money services companies are leveraging on technology to enhance controls, improve service delivery and reduce the reliance on physical currencies in the overall currency handling and exchange operations.
"Such developments will further minimise risks of disruptions to currency exchange services," it added.