For some entities subject to MASAK obligations, establishing a compliance programme is a legal requirement. An effective programme includes risk assessment, management commitment, training, internal audit and regular updates.
Related terms
Compliance officerThe authorised person responsible for running the compliance programme for the prevention of money laundering and terrorist financing at an obliged entity.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.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.Enterprise risk management (ERM)The process of identifying, assessing, managing and monitoring, in an integrated way, the risks that could affect an organisation's achievement of its objectives.
Last updated: October 22, 2026 · This definition is for general information only.