Compliance refers to proper supervision using competent system of internal controls within an organization to maintain the integrity of its business dealings, procedures and practices, the safeguarding of its assets in accordance with all relevant laws, rules, regulations, regulatory guidelines, standards and codes of practice.
Compliance in this context herein also refers to Compliance with laws, rules, regulations and regulatory guidelines enforced by authorities having control over the financial activities of the country as well as policies emplaced by the Group.
1. Anti-Money Laundering/Counter Financing of Terrorism
It is the policy of Maybank to take all reasonable and appropriate steps to prevent persons engaged in money laundering and terrorism financing from utilizing Maybank Group products and services. Maybank Group is at the forefront of the Government and Bank Negara Malaysia's continuous initiatives and efforts in the prevention of the use of the banking system for illicit, laundering and terrorism financing activities. The Group demonstrates its full commitment and support to high standards of compliance with the Anti-Money Laundering/Counter Financing of Terrorism (AML/CFT) requirements by establishing robust and comprehensive policy, procedures, processes and systems for the prevention and detection of money laundering and terrorist financing activities.
2. Financial Crime Compliance Questionnaire
The Financial Crime Compliance questionnaire provides an overview of Maybank Group’s Financial Crime Compliance programme, which includes its policies and practices on:
as well as its due diligence requirements associated with the provision of banking and other financial services.
For Maybank Group’s Wolfsberg Financial Crime Compliance questionnaire, please click here.
3. Maybank Group Global USA Patriot Act Certification
The USA Patriot Act requires foreign banks that maintain a correspondent account in USA, to complete a certification. In response to the USA Patriot Act and final rules issued by the U.S Department of Treasury, Maybank Group has executed a global certification for use by any financial institution that requires a Patriot Act Certification (PAC).
The new certificate will be updated without prior notice to reflect changes made from time to time to the information reported.
This certification covers all entities in the Maybank Group and no separate certification will be issued for a particular entity.
If there is a Maybank Group office or branch that maintains a correspondent with your institution and is not listed in the Annex attached to this certificate, please advise us by email at email@example.com.
All customers who wish to apply for any products/services in Maybank will be required to undergo the “Know Your Customer” (“KYC”) process which is regulated by Bank Negara Malaysia and any other relevant regulators where we have operations. With today’s regulatory focus on good governance and risk culture, Maybank is very much accountable for knowing and understanding their customers and associated financial crime risk.
Through our KYC processes we have built a framework which will help to get to know you, build a sustainable relationship and help to protect you against the potential risks of financial crime.
This Frequently Asked Questions (“FAQs”) has been produced to help you understand the level of detail we require during KYC process.
FAQs related to Know Your Customer (“KYC”) Click here
Foreign Account Tax Compliance Act (FATCA) 2010 is a legislation to help counter tax evasion in the United States (U.S).
FATCA creates a new information reporting and withholding regime for payments made to certain foreign financial institutions and other foreign entities.
FATCA came into effect on 1 July 2014.
Maybank Group is committed to be FATCA compliant in all countries that we operate.
Foreign Account Tax Compliance Act 2010 (FATCA) Frequently Asked Questions
For more information about how FATCA impacts you, please click here.
The Common Reporting Standard (CRS) is a global standard introduced by the Organisation for Economic Co-operation and Development (OECD) for the automatic exchange of financial information between jurisdictions that have agreed to participate.
Under the CRS rules, we are required to collect information on the country of tax residence of our customers.
Common Reporting Standard (CRS) Frequently Asked Questions
For more information about how CRS impacts you, please click here.
The PDPA is an Act enacted by the Malaysian Government to regulate the processing of personal data in commercial transactions in order to safeguard an individual’s personal data.
The Act came into force on 15 November 2013.
1. Maybank Group Privacy Notice
This Privacy Notice outlines how Maybank Group collects, uses, maintains and discloses your personal data in respect of commercial transactions and how Maybank Group safeguards the personal data.
"Maybank Group" or "We" in this Privacy Notice refers to Malayan Banking Berhad ("Maybank"), including its branches in Malaysia and in other countries as well as its local and overseas subsidiaries or, as the context may require, any of them.
For Privacy Notice in English version, please click here.
For Privacy Notice in Bahasa Malaysia version, please click here.
2. Personal Data Protection Act (PDPA) 2010 Frequently Asked Questions (FAQs)
3. Personal Data Protection Act (PDPA) Certificates of Registration
MAYBANK GROUP WHISTLEBLOWING POLICY
The objective of this policy is to ensure that all employees and members of the public have access to secured channels to make disclosures on any improper conduct by any member or representative of Maybank, with the assurance that there will be no repercussion against them. For further information, please refer to the full Maybank Group Whistleblowing Policy below:-
MAYBANK GROUP WHISTLEBLOWING POLICY
Malayan Banking Berhad and its subsidiaries and overseas branches (“Maybank”) is committed to the highest standard of ethics and integrity in its conduct of business and operations. As part of this commitment, Maybank has in place an avenue for disclosure of any improper conduct.
OBJECTIVES OF THIS POLICY
The objective of this policy is to ensure that all employees and members of the public have access to secured channels to make disclosures on any improper conduct by any member or representative of Maybank, with the assurance that there will be no repercussion against them.
Improper conduct includes, but is not limited to:
· Bribery and corruption;
· Fraud, theft or embezzlement;
· Abuse of power by an employee;
· Conflict of interest;
· Breach of Maybank’s Code of Conduct;
· Failure to comply with legal and regulatory obligations;
· Unauthorised disclosure of customer information; and
· Concealment of any of the above.
Any person who is aware of, or has reasonable grounds to suspect that, any improper conduct has been committed by an employee or representative of Maybank can make a disclosure.
Disclosures can be made via any of the following channels:
Group Compliance, P.O. Box 11635, 50752 Kuala Lumpur
For further information on the list of toll free lines in countries where Maybank has presence, please click here.
Whistleblowers are encouraged to include the following information in the disclosure to facilitate investigations:
· Name of person(s) involved;
· Date and time of the event;
· Nature of the event;
· Witness to the event, if any; and
· Evidence of the event, if any.
CONFIDENTIALITY AND PROTECTION OF WHISTLEBLOWER
The identity of a whistleblower who made a disclosure in good faith will be kept confidential and will only be disclosed on a strictly need-to-know basis. Employees who whistleblow in good faith will also be protected by Maybank from any repercussion.
WHISTLEBLOWING GOVERNANCE COMMITTEE
Maybank’s Whistleblowing Governance Committee is chaired by an independent non-executive director. The governance committee provides oversight to ensure that disclosures made via the whistleblowing channels are accorded with adequate attention, independence, investigation and remedial action, where necessary.
MAYBANK GROUP ANTI-BRIBERY AND CORRUPTION POLICY STATEMENT
Malayan Banking Berhad, its subsidiaries and foreign branches (collectively known as “Maybank”) is committed to conduct its business dealings with integrity. To achieve this commitment, Maybank adopts a zero tolerance approach against all forms of bribery and corruption in carrying out its daily operations. Maybank complies with the Malaysian Anti-Corruption Commission Act 2009, as well as other laws and regulations in the countries where we operate.
Maybank has put in place an Anti-Bribery and Corruption (“AB&C”) framework which includes policies, procedures, pre-approval processes, risk assessments, due diligence on third parties and associated persons*, and employee training programme.
The Maybank Group Anti-Bribery & Corruption Policy (“AB&C Policy”) sets out the guiding principles for Maybank to address and manage bribery and corruption risks in all its dealings within and outside Maybank. Compliance to the AB&C Policy is mandatory and Maybank, its directors and employees are to strictly comply with the following principles:
Associated persons performing services for or on behalf of Maybank are also required to comply with the above principles where relevant.
* A person is associated with Maybank if the person is a partner or agent of Maybank or if the person performs services for or on behalf of Maybank.