Lulu Money Malaysia is committed to preventing its products, services and delivery channels from being misused for money laundering, terrorism financing, proliferation financing or other unlawful activities.
As a licensed money services business regulated by Bank Negara Malaysia, Lulu Money Malaysia maintains an AML/CFT/CPF compliance programme comprising appropriate policies, procedures, systems and internal controls. These measures include customer due diligence, sanctions and name screening, transaction monitoring, record keeping, suspicious transaction reporting, employee training and ongoing compliance oversight.
The Company adopts a risk-based approach in identifying, assessing and managing money laundering, terrorism financing and proliferation financing risks associated with its customers, products, services, transactions, delivery channels and geographical exposure.
Lulu Money Malaysia’s AML/CFT/CPF framework is periodically reviewed and enhanced to ensure its continued effectiveness and compliance with the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA), applicable Bank Negara Malaysia policy documents and guidelines, and other applicable legal and regulatory requirements.
Lulu Money Malaysia reserves the right to request additional information or supporting documents, conduct further verification, delay or decline a transaction, restrict access to its services, or make the necessary regulatory reports where required by law, regulation or the Company’s internal compliance requirements.
