Anti-Money Laundering & Counter Financing of Terrorism (AML/CFT) Policy
SBB Money Exchange is committed to the highest standards of financial integrity. As a licensed Money Services Business (MSB) in Malaysia, we strictly adhere to the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA) and the guidelines set forth by Bank Negara Malaysia (BNM).
Our Commitment to Security
Our AML/CFT policy is designed to prevent our services from being used for money laundering, terrorism financing, or any other illegal activities. We maintain rigorous internal controls to ensure that every transaction processed through our counters is legitimate and secure.
Customer Due Diligence (CDD)
To comply with regulatory requirements, we perform mandatory Customer Due Diligence. When transacting with SBB Money Exchange, customers are required to:
Provide a valid, original government-issued identification (NRIC for Malaysians, Passport for Foreigners).
Disclose the true purpose of the transaction.
Provide “Source of Wealth” or “Source of Funds” documentation for transactions exceeding specific regulatory thresholds or upon request.
Transaction Monitoring & Reporting
Our compliance team actively monitors all transactions for unusual or suspicious patterns. SBB Money Exchange is legally obligated to:
Maintain accurate records of all transactions for a minimum of seven (7) years.
Submit Suspicious Transaction Reports (STRs) and Cash Threshold Reports (CTRs) to Bank Negara Malaysia when necessary.
Refuse service to any individual or entity found on global and local sanctions lists (such as the UN Security Council and Malaysian Domestic Lists).
Employee Training
All SBB Money Exchange staff undergo regular training to recognize fraudulent documents, identify suspicious behavior, and stay updated on the latest financial security protocols.
Contact Our Compliance Officer
If you have questions regarding our AML/CFT practices or wish to report a concern, please contact us:
SBB Money Exchange Address: LOT 48, BLOCK HS 4, BANGUNAN HARBOUR SQUARE, 90000 Sandakan, Sabah, Malaysia
Phone: +60 19-833 2164
Email: sbbmoneyexchange@gmail.com