QUOTE(Zanmai0146 @ Aug 3 2015, 01:38 AM)
Not true. Anything above RM500k within 1 year period only will trigger BNM. Below that? They don't give a damn at you. Even the 2million can go thru safely to Rosmah Affin Bank account.
They will allow the transactions. However, the financial institutions have to record or alert when a certain amount is reached.
I am giving an example from HSBC:
https://globalconnections.hsbc.com/us/en/to...-and-regulatory"Financial institutions must identify occasional customers involved in transactions of MYR 50,000 and above, and customers involved in wire transfers of MYR 3000 or above."
"Banks are required to record the amount and purpose of all transactions above MYR 5000 in a bulk register. Transactions exceeding MYR 50,000 must be recorded on a separate form."
Although they did not mention of reporting to BNM directly but it is understood that whenever BNM does their checkings, they will looks at these recorded transactions.
As Zanmai said, it is better to keep your money overseas. Withdraw from local agents (cash). Now with 1MDB crisis and all, BNM might become stricter on transactions.
This post has been edited by carrer: Aug 3 2015, 01:59 AM