Description
In the final quarter of 2025, Malaysia concluded its highly anticipated Financial Action Task Force (“FATF”) Mutual Evaluation and was upgraded to “Regular Follow-Up” status — the highest rating possible. However, this global recognition comes with a stern caveat: The Effectiveness Gap in the Designated Non-Financial Businesses and Professions (“DNFBPs”) sectors.
The 2025 Mutual Evaluation Report explicitly noted that, while Malaysia has a robust legal framework, DNFBPs (including legal practitioners) still demonstrate “less developed risk awareness“ and require significant improvements in preventative measures. For the legal profession, this means that 2026 will be defined by intensified supervision by authorities and a mandate to close these compliance loopholes.
This seminar provides a comprehensive overview of the existing AML/CFT framework in Malaysia, ensuring that legal practitioners understand their fundamental obligations and how to address the specific vulnerabilities identified in the recent Mutual Evaluation.
Key Seminar Topics
(1) DNFBPs’ Challenge
Analysing why lawyers are considered “high-risk gatekeepers” and how to address the gaps in risk awareness
identified by international assessors.
(2) AML/CFT Obligations
A structured overview of the current statutory duties for Reporting Institutions, including:
- Customer Due Diligence (“CDD”): The “who, what and how” of verifying individual and corporate clients;
- Risk-Based Approach (“RBA”): Identifying and assessing firm-level and client-level risks; and
- Suspicious Transaction Reporting (“STR”): When to report and what to report.
(3) Beneficial Ownership Transparency
Essential steps for identifying the ultimate controllers of legal persons and legal arrangements.
(4) Targeted Financial Sanctions
Navigating the mandatory requirements for sanctions screening against United Nations Security Council Resolutions (“UNSCR”) and domestic sanction lists.
(5) Record Keeping and Compliance Culture
Understanding Bank Negara Malaysia’s (“BNM”) expectations for internal policies and document retention.
Who Should Attend
Legal practitioners, partners and compliance officers seeking a clear and consolidated overview of the AML/CFT regime in Malaysia to ensure that their firms remain compliant with the latest BNM policy documents.
Speaker
Yong li Yang is a legal professional with experience in litigation, compliance and technology. He holds an LL.B (Hons) from Universiti Malaya and is the founder of Legal Compliance Tech Sdn Bhd.
He is engaged in navigating complex legal landscapes and implementing innovative technological solutions to ensure organisations maintain the highest standards of compliance. His passion for streamlining legal processes and strengthening regulatory compliance led to the establishment of Legal Compliance Tech Sdn Bhd, a company dedicated to providing effective and innovative software solutions.
Throughout his career, he has guided organisations through regulatory challenges, assisting them in streamlining compliance processes and mitigating risks. He has also provided training sessions to organisations on AMLA compliance matters.
Moderator
Karen Cheah Yee Lynn is the past President of the Malaysian Bar. Her presidential term was from March 2022 to March 2024. She was the Chairman of the Malacca State Bar Committee from 2012 to 2015 and has been a Bar Council member since 2012. She was appointed as the Treasurer of the Malaysian Bar for the terms 2013/14 and 2014/15. She subsequently served as the Secretary of the Malaysian Bar for the terms 2015/16 and 2016/17. She is the current Chairperson of the Bar Council Committee on AMLA and the Co-Chairperson of the Bar Council International Policy and Practice Committee. She also serves as an EXCO member of LAWASIA.
Terms and Conditions
Event Policy
Places are limited and registration is on a first-come, first-served basis. The registration for this session will close on 2 Mar 2026 (Monday), at 12:00 pm.
For events with registration fees, all payments must be made in advance, including bank charges. Registration will be confirmed once proof of payment is provided by email or fax, and full payment is received.
The organiser reserves the right to modify, cancel or postpone the event, should circumstances arise that make such action necessary, whereupon all registration fees paid will be refunded.
Cancellation
Cancellations must be made in writing.
Please note that there will be no refunds for cancellations, but substitutions are allowed. Kindly inform us in writing with the relevant details at least three days in advance.
If you have failed to inform the organiser on your cancellation for three consecutive times, you may be blacklisted for future events.
Transferral
You are allowed to transfer your place to another participant, but you must notify the organiser with the necessary details at least three days in advance.
Attendance
CPD points for the CPD Scheme will not be awarded to lawyers and pupils in chambers from Peninsular Malaysia who arrive more than 15 minutes late, are not present throughout the event, or leave before its scheduled end.
Privacy
The personal information that you provide to the Malaysian Bar, whether now or in the future, may be used, recorded, stored, disclosed or otherwise processed by or on behalf of the Malaysian Bar for the purposes of facilitation and organisation of this event, research and audit, maintenance of a participant database for the promotion of this event, and such ancillary services as may be relevant.
Disclaimer
- Materials (if any) will be emailed only. No printed notes will be provided.
- No recording of the event is permitted via any means at any time.
- No part of the event content may be used / reproduced in any form without the written and explicit consent of the Malaysian Bar and speaker(s).
