Reporting institutions (RIs) are required to provide DCRs consistently to Bank Negara Malaysia (BNM).
Questions concerning how RIs have complied with AML/CFT (Anti-Money Laundering, Countering Financing of Terrorism) rules and the potential exposure to ML/TF (Money Laundering, Financing of Terrorism) threats that RIs may have been incorporated into the Data and Compliance Report (DCR).
DCR is issued under the provisions of section 8(3)(a) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act of 2001 (AMLA), read in conjunction with section 143(2) of the Financial Services Act 2013 and section 155(2) of the Islamic Financial Services Act 2013.
The beginning submission period for DCR 2022 starts on September 1 and ends on November 30, 2022.
Only DCRs filled out will be approved and evaluated by BNM to produce a report card for the RI in the future.
It is important to remember that all DCR 2022 submissions must be made through the DNFBP Portal and considered final. BNM will disregard any requests to change the DCR that have already been received as moot.
The BNM will use the information submitted by RIs in the DCR 2022 for supervision and assessing risks. The information will remain confidential. It is recommended that RIs use the DCR and its related report card provided as self-assessment tools to assist in identifying gaps and areas of improvement in their compliance with the AML/CFT regulations.
Completing the DCR does not constitute an endorsement of the company's businesses or goods. BNM does not endorse, approve, register or license the businesses, products, or services offered by any RIs.
HOW TO SUBMIT OR DECLARE FOR DCR 2022?
The following overviews of the step-by-step process for declaring or submitting DCR 2022.
Step-by-Step Guide – Submission of DCR 2022
Step-by-Step Guide – Declaration for DCR 2022
If you would like further information, please click here:-
WHO AND WHEN TO SUBMIT DCR 2022?
Applicability
DCR 2022 is only applicable to the following sectors:
Accountants
Lawyers and Notaries Public
Company Secretaries
Dealers in Precious Metals or Precious Stones
Registered Estate Agents
NOTE: Submission or declaration for DCR 2022 is on a firm basis
DCR Joint Statement for accounting sector, jointly issued by BNM and MIA:-
Submission for DCR 2022
Submission period: 1 Sep - 30 Nov 2022 (No extension of timeline will be provided)
Compliance Officer
According to the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for DNFBPs and NBFIs (AML/CFT and TFS for DNFBPs and NBFIs) Act 2001 (AMLA), all reporting institutions are required to inform Bank Negara Malaysia (BNM) on the appointment or change in the appointment of the Compliance Officer following paragraph 11.5.13 of the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for DNFBPs and NBFIs (AML/CFT and TFS for DNFBPs and NBFIs).
If your firm has not appointed a Compliance Officer (CO) or wishes to notify of the change of CO, please click here.
Declaration for DCR 2022
Declaration period: 1 Sept - 30 Nov 2022 (No extension of timeline will be provided)
Declaration Form: https://dnfbpportal.bnm.gov.my/Declaration-Form/
Firms from the five sectors above that meet ANY of the following criteria are only required to declare their status:
Dormant/ striking off/ winding up/ liquidating in 2021 or 2022;
No new and existing transaction/ client for the entirety of 2021 (i.e. inactive firms, newly incorporated firms in 2021 and 2022, etc.);
Non-provision of Gazetted Activities by legal/ accounting/ company secretarial firm in 2021; OR
Non-provision of estate agency practice by REA firm in 2021.
Exceptions
The DCR 2022 DOES NOT APPLY to:
Other DNFBP sectors not listed in the ‘Applicability’ section above;
Any RI which has been selected and informed for on-site examination for 2022; OR
Lawyers, accountants and company secretaries who are ‘internal’ professionals that are employees of other types of businesses or professionals working with government agencies.
Find out here to see whether DCR 2022 applies to your firm:
FAQs on Submission Requirements
Q: [For accountants] My firm provides auditing services only. Do we need to submit DCR?
A: Accountants who provide audit service which does not fall within any of the 5 GA are not RIs under the AMLA. As such, your firm is only required to declare non-provision of GA.
Q: Do we need to submit the DCR if we provide GA-related service but do not hold money in the client’s account? A: Yes, DCR submission is required if your firm provides GA, regardless of whether the firm holds or does not hold the client's money in the client accounts.
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