Kenneth Rijock

Kenneth Rijock

Thursday, July 31, 2014

RAISE COUNTRY RISK ON MALAYSIA (BUT NOT DUE TO AVIATION CAUSES)


Information obtained by the Israel Defense Force, in its ground offensive in Gaza, has confirmed that special operations troops of Hamas received training in Malaysia, including parachute qualification. Add this to the fact that at least five Malaysian financial institutions are know to be under de facto  control of Iranian nationals, and we are looking at potential sanctions violation penalties, and OFAC designation on Malaysia, Malaysian banks, or Malaysian nationals providing material support to a designated terrorist organization.

Compliance officers entrusted with the assessment of Country Risk should review all available data, and make an educated decision. In my humble opinion, it is prudent to raise Country Risk at this time on Malaysia, and to review any existing financial exposure that your bank, or its customers may have, in that country.

1 comment:

  1. Could you name the five FIs, please? Thanks!

    ReplyDelete

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