Finance Institution Meeting Customer Due Diligence and AMLA Requirement
Ensuring compliance for loan applications
Services used
Problem
Struggling to comply with Malaysia's stringent AMLA/CFT regulations while maintaining smooth operations throughout the branches across the country.
Solution
Risk Check provided a comprehensive risk screening tool, enabling them to identify and meet compliance.
About
A leading financial institution in Malaysia faced the uphill task of finding a solution that was fast and easy to implement and reliable enough to meet Bank Negara’s rigorous Anti-Money Laundering and Counter-Terrorsim Financing (AMLA/CFT) requirements.
Conclusion
With HaloCheck’s Risk Check, the financial institution was able to implement our screening solution in less than a week. This allowed them to fortify their reputation as a trusted institution, assuring customers of their commitment to a safe and secure financial environment.
What Our Clients Say
Adopting HaloCheck has been a game-changer for Zerin Properties, enabling us to embrace technology and swiftly comply with BNM's AML/CFT requirements. By simplifying our due diligence process, we can prioritize trust and safety for our property clients, providing them with the seamless and reliable service they deserve.
Previndran Singhe, Founder, Managing Director, and CEO, Zerin Properties
Integrating Risk Check into our customer due diligence process has been a game-changer for our bank. It complements our existing KYC efforts, providing a localized and highly accurate result, helping us stay ahead in the fight against financial crime
Risk Management Senior Manager,
Financial Institution (Malaysia)
Embracing technology has always been our ethos, and partnering with HaloCheck was a natural choice to ensure seamless compliance with BNM AML/CFT requirements. With their fast and reliable system, we've streamlined our Clients Due Diligence process, allowing us to be efficient gatekeepers and protect our clients and assets effectively.
Mahathir Mahzan, Founding & Managing Partner,
Mahzan Sulaiman
Community Reference Check has been an invaluable asset in revolutionizing our hiring process. By screening all new hires pre-onboarding, we've been able to filter out candidates with a history of violations or unethical behavior, significantly reducing losses due to pilferage by 55%. Embracing this collaborative approach has also sent a strong message, deterring bad actors from attempting to harm our company. We couldn't be more pleased with the positive impact it has had on our business.
CEO, Retail Chain Convenience Store (Malaysia)
We are committed to elevating our profession and enhancing service delivery for the benefit of the public. By partnering with HaloCheck and CRE Tech, we provide our members with a fast and reliable e-KYC solution, ensuring compliance with regulatory requirements. This empowers our real estate practitioners to conduct customer due diligence efficiently, contributing to a safer and more compliant real estate industry.
Chan Ai Cheng, President, Malaysian Institute of Estate Agents (MIEA).
Other Use Cases
Digital Identity Verification Redefined
How e-KYC Empowers Hassle-free Onboarding
Deter Bad Actors and Reduce Pilferage/Shrinkage Losses
How Community Reference Check Safeguarded Retail Convenience Store Chain Corporation from Bad Actors
EXCLUSIVE
