ARBA Foundation Participation in Malaysia's FATF Mutual Evaluation (ME)

Malaysia is currently undergoing the ME exercise under the Financial Action Task Force (FATF) and ARBA Foundation is one of the chosen Non-Profit Organization (NPO) to represent Malaysia.

On Monday, our team has attended workshop provided by The Bank Negara that was conducted by trained ME assessors from Singapore, Thailand, Indonesia and Australia, that aims to provide familiarity on the actual ME on-site interview processes.

One of the scopes of the ME process is the on-site visit where the assessment team will be meeting the Non-Profit Organisation (NPO) representatives, to discuss about terrorism financing (TF) abuse of NPOs in Malaysia. 

As a recap, the purpose of the on-site visit is a form of validation and feedback exercise on how well the NPOs in Malaysia understand the nature of their activities that may potentially be subject to TF as well as any cooperation/collaboration experiences and feedback the NPOs have about their regulators in the context of TF measures such as the awareness and outreach sessions that they have conducted.

Subsequently, the information provided by the NPOs will be used to assess the country’s overall effectiveness in preventing and combatting TF.

Hopefully, we will make the best possible effort for our country!