PETALING JAYA: TNG Digital Sdn Bhd (TNGD), the owner and operator of Touch ‘n Go eWallet, is fully committed to complying with Bank Negara’s standards.
Chief executive officer Alan Ni said TNGD will continue to cooperate with Bank Negara, adhere to protocols and practise the highest standard of self-accountability.
“In support of the recent announcement made by Bank Negara, TNGD is using these cases as a prime example of our strong compliance with its regulations and policies. With our users as our top priority, we aim to reinforce their confidence in the compliance of our platform,” said Ni in a statement.
On Sept 1, Bank Negara had imposed an Administrative Monetary Penalty of RM600,000 on TNGD for contravening the Financial Services Act 2013 and the Anti-Money Laundering and Counter Financing of Terrorism regulations.
TNGD had voluntarily reported to Bank Negara that it had, on separate occasions, onboarded two sanctioned individuals under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities (Declaration of Specified Entities and Reporting Requirements) (Amendments) Order 2014.
As such, TNGD had proactively come forward to the bank with its own discoveries during a compliance review. — Bernama
