Bank Negara Malaysia had, on 11 July 2024, imposed Administrative Monetary Penalties on four financial institutions namely Maybank Banking Berhad, Maybank Islamic, AmInvestment Bank and RHB Bank Berhad for non-compliance regarding the submission of relevant information that is required by the Central Bank.
The information that the banks failed to submit are STATsmart Reporting – Financial, Compliance and Industry Specific Data (STATsmart PD) issued on 1 June 2022; External Sector Statistics System – Submission of International Transactions and External Position Information Policy Document issued on 31 January 2022 and revised on 1 November 2022; and Central Credit Reference Information System– Requirements on the Submission, Usage and Protection of Credit Information issued on 29 January 2021.
Under these requirements, BNM said the financial institutions are required to submit timely accurate and complete data, as specified in the policy document.
BNM said the financial institutions committed non-compliances associated with late, incomplete and/or inaccurate submissions of critical data related to financial and payments, external assets and liabilities, cash balance of payments and borrower’s credit information, which may impact analysis, decision-making and publications by the Central Bank.
Fines were between RM750,000 to RM10,000.
