Yeah, I have to go for AMLA refresher every year, and ML is nothing to laugh about. In a way, using dirty money to buy ASNB units from a seller can be considered as a "Layering", where the source of the dirty money is concealed through a series of transactions and/or other accounting tricks

For example, dirty money that was deposited into their account through cash deposit was used to buy RM5,000 worth of ASNB units over time, some money is sold back into the market and withdrawn at ASNB branch. All involving different amounts so it would be difficult for the computer or AMLA agents to detect any pattern. The launderers can be in any form, from buyers to sellers of the units. Pick the wrong person and you may be implicated.

Not scaring you guys, just saying.

Exactly. Cash deposit machines should be banned in malaysia. Dirty money can be used to pay credit card debt when money deposited into machines. Over time the card can be used to buy goods and cash withdrawn from the card. We should all go back to the 1970s to deposit cash at the bank counter and declare the cash is clean and providing the source of money. Otherwise people should be implicated for money laundering.

Not scaring you guys, just saying.

Ahaha i see my name. I sold my units to 2 diff person. 1 of them from KL, so i met up f2f, and dealt with him for around rm30k

The balance 45k, was sold to a chap from another state. Upfront transferred 25k per transaction upfront to me, twice totalling 45k. We built trust from the previous transaction, and from time to time, i do let go my units to him without any charges since can save my time going bank to sell. With the total amount of deals we have done, we frequently transfer without any hesitation anymore

This post has been edited by raptar_eric: Dec 27 2019, 01:04 AM

While I know you are being sarcastic, but for cash deposit machine case, we are intend to heading towards cashless society for this reason. Also for 25k cash limit rule.

As for credit card, I not sure what are you talking about. There is a limit on credit card based on your credit, and bank can suspend your card if you did whatever tricks too much, too frequently. Edit: some may heard cases that someone top up and withdraw with bigpay card too much, too frequent and get suspended.

The thing is when it involved 5 digits or more, one must be very cautious with the transaction.

This post has been edited by vanitas: Dec 27 2019, 08:47 AM

good guys didnt do research

while shady ones did their due diligence

I bought units without considering the cash on hand, now have to sell some...bank in and transfer units seems impossible as no trust between strangers, for face to face deal I can only do it at JB, but I think most of the members here are from KL, only way is to sell back to asnb...but surprised to know that there's no transfer limits, like that all my units can be gone in one day if my account kena hack...

For transfer you will need OTP from your phone

Hi sifus. Apologize if this question has been asked before.

Assuming an ASB account has been maxed out @ 200k with 20k dividend (Total 220k in account), if I withdraw 20k, am I able to top-up back 20k in the future?

ahh thanks for the information bro. so it seemed that they didn't ask for your particulars?

haha true true



This post has been edited by beLIEve: Dec 27 2019, 11:26 AM

Yes you can. The RM20k distribution paid out to you would increase your capping. Your total capping would then be RM220k. If you withdraw the 20k, your baki boleh beli would be RM20k, which means you can top it back in the future.

This is why some people have more than RM200,000 baki boleh beli in their accounts, like this example below



This is completely wrong. Unless there are other rules that I do not know of that apply to those who are not normally eligible for ASB (non-Bumi, non-Muslim, non-Thai-descent, non-Portugese-descent)

But for my clients who have had ASB financing and have received distributions paid into their accounts in the past, all of them have had their capping increased over the years

This post has been edited by wild_card_my: Dec 27 2019, 11:28 AM

wahhhh i never know that. let me remove it

No problem man. We all learn everyday. This is why I do not understand those who are eligible for ASB, but never maximized it, even though there financing facilities available, of which has lower rates than the ASB return

Let me ask you this. If someone, let's say bumi Malay already has housing loan and almost max out debt-service-ratio, can they still get ASB loan? I asked a bank teller before, she told me ASB1 also not max out. odd that even bank staff dont know that.

It depends on the term maxed out. DSR between banks and between financial products differ from one another

DSR for MBB mortgage is 70%. DSR for ASBF for a certain bank is 90%

thanks for the info. next time i pass by the bank I try ask the teller

Or you can ask me. ASBF is my bread abd butter

Thank you very much for the clarification, sifu! Btw, does this applies to ASB2 as well? or different, since it has a maximum total funds allocation.

This post has been edited by kanz1986: Dec 27 2019, 04:16 PM

Yes, it applies to ASB2 as well. I am quite sure of it as I saw it in the prospectus.

Mohon maaf if overlooked this though, I know about this because I am an ASB Financing broker, so it is my business to know about these technical issues, but it has been a while since ASB2 was opened for financing, so I might have missed that.

If you already have 200k (financing or cash) in your ASB2, good for you.

no lah. i mean ask the bank teller why she's not taking the ASB loan to max her ASB1 account. I thought bank staffs should know quite well.

Wahh.. seriously if someone wanna sell me ASM1 , i prefer meet up and deal personally.
But 2% .. hmm.. is it expensive or is it a market rate ?