KUALA LUMPUR, Sept 1 — An interesting notice went up on Bank Negara Malaysia’s official website today. It seems that TNG Digital was fined for non-compliance with the Financial...
KUALA LUMPUR, Sept 1 — An interesting notice went up on Bank Negara Malaysia’sSpecifically, the company contravened the act by also involving the following policies:
the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions policy document On the first occasion, TNG Digital failed to conduct sanction screening on customer names to ensure that they are allowed to use financial instruments licensed by the government.
In both cases, it seems that human error and minimal due diligence was made to ensure the customers are legally allowed to use the TnG eWallet.
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