Vol: 5, Issue: 1 2015

Page: 43-51

The Dynamics of Risk Management in Malaysian Remittance Services

Md Amanat Ullah, Mr Albert Lim, Dr. See Ta Wee.

In the contemporary era, a lot of people moves many part ofcountriesin the modern world, the developing countries people also moves for the better earning. Malaysia is one of the host country to allow the foreign workers to work and providing financial facility for them such as banking, financing and remittance. The government of Malaysia is providing remittance licensing to help the foreign employees with right way. Therefore, a lot of money transfer companies are able to serve them with act of “Anti Money Laundering and Counter Financing of Terrorism” (AML/CFT) Bank Negara Malaysia. The enterprise, and mid-level companies are having few risk to do this services in the market it will discuss below.