KUALA LUMPUR: Alliance Bank Malaysia Bhd, one of the banks reportedly mentioned in a leaked document of the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN), said it has zero tolerance towards money laundering and terrorism financing.
In a statement today, the bank said it has a comprehensive and robust system of risk management and internal controls to ensure and enforce compliance with all applicable laws and regulations.
A report, citing the purported document, said a total of 23 transactions, involving US$18.26 million that flowed to or from nine banks in Malaysia between 2010 and 2016, had been flagged by US-based banks as suspicious.
Alliance Bank is the latest bank to issue a statement regarding the allegations, after Public Bank Bhd, CIMB Group, AmBank Group and United Overseas Bank (UOB) Group.
Public Bank said it remains committed in efforts to combat financial crimes and would cooperate with the authorities to maintain the integrity of the financial system while CIMB Group said it is diligent in filing Suspicious Activity Reports when appropriate and adheres to a robust due diligence process in a secured and controlled environment.
AmBank expressed its strong commitment to adherence to all banking rules and regulations, and UOB Group also said it complies with all applicable laws, rules and regulations in the markets in which it operates. -Bernama
