In Malaysia, members of the public may buy or sell foreign currency only with licensees allowed to conduct money-changing business under the Money Service Business Act 2011 (MSBA) or licensed onshore banks. Likewise, all outwards remittances may be transacted only through licensees allowed to conduct remittance business under the MSBA or licensed onshore banks. The list of licensees under the MBSA and onshore licensed banks can be obtained from Bank Negara Malaysia website.
Bank Negara Malaysia’s Financial Consumer Alert
Bank Negara Malaysia (BNM) has a Financial Consumer Alert list which consists of companies and websites which are neither authorised nor approved under the relevant laws and regulations administered by BNM. Please take note that the list is not exhaustive and only serves as a guide to members of the public based on information and queries received by BNM.
Link to the BNM’s Financial Consumer Alert webpage (Please Click Here)
Financial Consumer Alert: List of unauthorised companies and websites (Please Click Here)