The main objective of this book is to give readers an easy entry and understanding of all aspects of anti-money laundering and counter financing of terrorism (AML/CFT). There are books in this area but it is either too technical or too long or too difficult for readers to understand. Hence, this Book was written as preliminary reading material before attending any AML/CFT related programs. This Book is also intended to be a ‘refresher” reading material before attending any AML/CFT refresher training programs.

In this book, each Chapter selected and discussed are critical areas on the subject of AML/CFT. The Chapters may not completely cover all AML/CFT areas as this Book is intended to be complementary to many others that have already been written on AML/CFT. It is with great hope that the readers appreciate the “spirit” behind the entire AML/CFT regime and the purpose of each policy, rules, regulations and the laws behind AML/CFT.

By the end of this Book, readers would realize that criminals / terrorist will be having great difficulty to enjoy or move their illegal funds through the Malaysian Financial System. The entire AML/CFT legal framework was introduced to be an effective mechanism to prevent illicit funds from entering or moving into the Malaysian Financial System whether onshore or offshore.

The idea of writing this book came in when I was involved in a project named Certified Anti Money Laundering & Counter Financing Terrorism & Regulatory Compliance Officer (CCO-UMS-CPD) with Visioon Business Solutions Sdn Bhd. As regulatory compliance is one of the module introduced in CCO-UMS-CIPD, so this writing will be a medium to understand further the regulatory compliance. The importance of having good regulatory compliance ensures and governs the companies or organizations to comply with the relevant laws, rules and regulations in the relevant jurisdiction. As regulations are constantly changing and evolving, companies and organizations seek to constantly be in compliance with the updated relevant laws, rules and regulations. Knowing how to operate businesses in the landscape of rules and regulations is vital for companies to achieve their business goal. Due to this reason, the initiative was taken to share the facts on what regulatory compliance is. I believe this writing shall help in giving a basic idea on the regulatory compliances framework. Though the writing may not cover all the areas of regulatory compliance, but it might give some idea of understanding on the general knowledge of regulatory compliance.