Anti-Money Laundering and Counter-Terrorism Financing

We are committed to the highest standards of Anti-Money Laundering (“AML”) and Counter- Terrorism Financing (“CTF”), including the prevention, suppression, and disruption of proliferation of weapons of mass destruction and its financing.

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Our approach

Our standards and guidelines have the mission to identify and adopt all necessary measures to prevent the use of our financial services to launder money and finance terrorism, such as customer due diligence, continuous monitoring of clients and transactions, keeping a register of these checks, identifying suspicious transactions based on defined risk indicators and reporting them to the local Authority.

Our standards are based on the regulatory requirements on money laundering and terrorism financing, which are continuously monitored to ensure that we’re acting in compliance with the external laws.

We ask to all employees and third parties (i.e., agents, brokers, consultants) acting on behalf of Generali Malaysia to comply with all our standards and to effectively adopt all the actions aimed at preventing the laundering of money and the financing of terrorist activities.

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Training

We place utmost importance on training our personnel to further raise awareness of the risks of money laundering and terrorism financing, and to protect ourselves from these crimes.

A training program is established to provide adequate and periodic trainings to all employees, including dedicated training initiatives for the personnel exposed to higher risk of money laundering and terrorism financing (e.g., front line staff). Our trainings include the key pillars related to the legal framework which applies to Generali Malaysia, the internal policies and procedures, the duties, and responsibilities of each employee or third party and the potential scenarios by which Generali Malaysia may be misused for money laundering and terrorist finance purposes and on the process to be followed to report any anomalous activity.

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Reporting

The main purpose of our Anti-Financial Crime Program is to ensure active collaboration with public Authorities through the detection and submission of any potential anomalous and suspicious activity.

The employees who know, suspect, or have reasonable grounds to suspect that money laundering or terrorist financing offence is being or has been committed or attempted must immediately report the suspicious activity following the internal processes.

In this respect, Generali Malaysia ensures, through the adoption of appropriate measures, to protect the persons who report any suspicious activity.