Bank Negara Malaysia (BNM) has imposed a fine of RM520,000 on AEON Credit following the company’s failure to comply with targeted financial sanctions inspection requirements.
The action was taken after BNM’s supervisory inspection found that AEON Credit had accepted customers listed as specified entities under the Malaysian Domestic List.
As a reporting institution, companies are required to reject customer applications that match names on the Domestic List or the United Nations (UN) Security Council Resolution List, in addition to freezing their funds once their identities have been verified.
BNM also found that AEON Credit failed to reject customers even though a positive match had been identified, in addition to being late in freezing accounts after verification was made. The violations were due to weak staff supervision and deficiencies in the company’s standard operating procedures (SOPs).
Following the incident, AEON Credit has strengthened internal procedures and conducted retraining of relevant staff to improve compliance.
According to BNM, the amount of the fine imposed takes into account the level of the offence, AEON Credit's failure to take reasonable precautions, the company's previous compliance record and the corrective actions that have been implemented.
AEON Credit has settled the fine of RM520,000 on 16 April 2026.
