Bank Negara Malaysia today announced that they have imposed a fine of RM600,000 on TNG Digital Sdn Bhd, for breaching two Financial Services Act 2013.
TNGD was found to have failed in screening the name of the customer, at the same time causing two individuals who were punished under AMLA (Anti-Money Laundering, Anti-Terrorist Financing and Proceeds of Illegal Activities Act 2014) to use services under TNGD.
TNGD is also said not to confirm and investigate further involving the customer.
Bank Negara Malaysia informed that TNGD had paid a fine of RM600,000 on 31 May 2023.
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BUSINESS & MONEY