Based on that, the following crimes are classified as medium threats to money laundering situation in Malaysia: •  Organised Crimes  •  Human Trafficking & Migrant Smuggling  •  Forgery  •  Theft and Robbery; and  •  Counterfeiting of Currency  Human Trafficking and Migrant Smuggling, although currently assessed as medium threat is also seen as an emerging threat for Malaysia as this criminal activities is believed to generate substantial proceeds and may be further pursued if not enough enforcement actions are taken by the law enforcement agencies. If left unchecked, this type of crime may have the potential to pose high risk threats to the country from money laundering perspective. The following crimes are classified as low threats from money laundering activities: •  6  Sexual Exploitation  BIS central bankers’ speeches  •  Arms Trafficking  •  Counterfeiting and piracy of products  •  Insider Trading and Market Manipulation  •  Murder  •  Environmental Crimes  •  Extortion  •  Kidnapping  •  Sea Piracy  Terrorism Financing threat is classified as medium risk taking into consideration the following factors: •  Insignificant number of terrorism and terrorism financing incidents in Malaysia  •  Primary groups (such as Jemaah Islamiah (JI) and Kumpulan Mujahidin Malaysia (KMM) have been dismantled)  •  Evidences so far indicate self-financing by individual terrorist.
Ooi Sang Kuang: Managing risks in mortgage financing Welcoming address by Mr Ooi Sang Kuang, Deputy Governor of the Central Bank of Malaysia, for the talk on “Managing Risks in Mortgage Financing”, Kuala Lumpur, 13 January 2010. * * * It is my great pleasure to welcome all of you today to this dialogue on “Managing Risks in Mortgage Financing”. This event is jointly organised by Bank Negara Malaysia and Cagamas Berhad to review and exchange perspectives on developments in the area of mortgage financing. At least two factors make this a highly topical subject at this particular time. Firstly, the dramatic events of the global financial crisis have shed the spotlight directly on the mortgage market, prompting many questions to be raised about current practices in mortgage financing. These questions have challenged traditional assumptions that mortgage lending is generally a safe and low-risk activity, and drawn attention to the blind spots that we need to be concerned about. Secondly, the current accommodative stance of monetary policy coupled with the increasing intensity of competition in the mortgage market calls for greater vigilance by banks in monitoring risks in the mortgage portfolio. Expectations of faster and stronger recovery prospects for Asia, and that Asia will begin the process of unwinding of accommodative policies ahead of the rest of the world, could also lead to strong capital inflows and asset price increases. These combined conditions require banks to carefully monitor any changes in the direction of risks emanating from the housing market.