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International Business Management
Year: 2012  |  Volume: 6  |  Issue: 3  |  Page No.: 325 - 332

Suspicious Transactions: An Analysis from the Perspective of Consumers in Malaysia

R. Nordin, B. Rastegari and S. Mousavi    

Abstract: This study attempts to address issues related to suspicious transactions that are regulated by the Malaysian Anti-Money Laundering and Terrorism Financing in 2001 (AMLA) from the perspective of consumer/client. This study discusses: the historical background of the legislation that regulates suspicious transaction, i.e., AMLA; how suspicious transactions are determined and managed and the relevant procedures under the legislation that have compromised the rights of consumers/customers. All these issues are considered in light of the existing Malaysian legal framework and under international law. In terms of its methodology, this study considers the conflict between the duty of state to ensure peace and security via anti-terrorism legislation and its duty to protect human rights vis a vis consumers’ rights.

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