The compliance officer prepares the institution's policies, carries out risk management and monitoring activities, evaluates suspicious transactions and reports them to MASAK, and coordinates staff training. They must be able to perform their duties independently and with sufficient authority.
Related terms
MASAKThe Financial Crimes Investigation Board, affiliated to the Ministry of Treasury and Finance, which develops policy and supervises obliged parties in combating money laundering and terrorist financing.Suspicious transaction reportA report made to MASAK by obliged parties when there is suspicion, or reasonable grounds for suspicion, that a transaction is related to money laundering or terrorist financing.Compliance programmeThe full set of policies, procedures, controls, training and monitoring activities an organisation puts in place to ensure compliance with laws and internal policies.Compliance auditAn examination of whether an organisation's activities are carried out in accordance with the relevant laws, regulations, contracts or internal rules.COSOThe organisation that publishes the most widely accepted frameworks for internal control and enterprise risk management, and the general name for those frameworks.Data controllerThe natural or legal person who determines the purposes and means of processing personal data and is responsible for establishing and managing the data filing system.
Last updated: October 22, 2026 · This definition is for general information only.