There is a centralised AMLA CFT database and there is a national AMLA CFT task force

CFT stands for Counter Financing for Terrorism

This task force comprise of Police, Bank Negara, IRB and Commercial Banks. If you are included in the database its obviously not good.

If the bank that has closed the account reports TS to the Task force via the Database, TS.. You are screwed as the database is accessible by all commercial banks and TS might not be able to open any bank account in Malaysia.

TS, you better sort out this issue with your current bank and hope you are not reported for being suspected in AMLA CFT activities.

Bank has a right to close your account if they suspect it is being used for any illegal activity.

Your next immediate concern is whether a STR report has also been submitted by your Bank to BNM.

https://amlcft.bnm.gov.my/reporting-to-bnm

If your Bank has submitted your details to BNM for STR, you will find it a bit challenging to open or apply for any new bank facilities

I would advice that you write to your bank to ask for opportunity to explain the transaction in your bank account. This you will need to speak to at least branch manager levels

Most bank in Malaysia are adverse to bitcoin trading activities and also for Normal savings account to be used for active business activities where there are many credit activities ftom third party

This post has been edited by cfa28: Sep 10 2022, 02:36 PM