The initiative highlights the role of industry education, accurate reporting and digital tools in strengthening compliance practices among real estate professionals.

KUALA LUMPUR — PaymentXchange is continuing its efforts to strengthen Anti-Money Laundering Act (AMLA) readiness in the real estate industry through practical education, industry engagement and digital solutions designed to support compliance processes.

Held on September 18, the AMLA Readiness Clinic provided Compliance Officers with an opportunity to assess their understanding of AMLA requirements and review existing practices through a guided self-assessment.

Participants examined key areas, including record accuracy, supporting documentation and reporting procedures, while identifying gaps that require further attention.

A session led by Mr. Muhamad Nazri bin Shaidon highlighted the importance of completing the Data and Compliance Report (DCR) accurately and consistently, supported by reliable records and documentation. Participants were encouraged to verify information before submission and address discrepancies promptly to improve reporting quality.

The clinic also emphasised the importance of collaboration across business functions. Principals, Finance and Operations representatives each play a role in maintaining accurate transaction records, following established procedures and ensuring that reported information reflects actual business practices.

PaymentXchange aims to build on these efforts through future AMLA Readiness clinics and knowledge-sharing initiatives, alongside digital solutions that support property transaction workflows, digital record-keeping, receipts, screening and documentation.

While technology can help streamline compliance processes and improve access to organised records, understanding and meeting applicable legal obligations remain essential.

Through the combination of practical education and digital innovation, PaymentXchange seeks to support a more informed, efficient and compliance-ready real estate industry.

PaymentXchange is Malaysia’s first transparent, compliant property payment platform designed to protect real estate earnest deposits.

The platform aims to bring greater transparency and security to property transactions through digital payment solutions that support a more structured and reliable transaction process.

To learn more about PaymentXchange