A study of Malaysian anti-money laundering law and the impact on public and private sector

Abstract

Purpose The objectives of this study are to analyse the present Malaysian law regarding money laundering, to identify advantages and disadvantages of the current anti-money laundering law, to analyse its impact on the public sector and the private sector and to make recommendations on any improvements that should be made. Design/methodology/approach This study will use a qualitative method where the literature review method applies to collect primary and secondary data regarding anti-money laundering laws. Data has been collected from the various provisions of laws and text reading, such as books, articles, journals, law cases and thesis regarding anti-money laundering laws and those analysed with the content analysis method and the critical analysis method. Findings This study found that Malaysia has one law regarding anti-money laundering and they have control over individual and corporate entities in Malaysia. Originality/value This study found that Malaysia has one law regarding anti-money laundering and they have control over individual and corporate entities in Malaysia.