LWORLD VENTURE SDN BHD. As a physical gold trader in Malaysia, your business falls under the classification of a Designated Non-Financial Business and Profession (DNFBP). You are legally required to comply with regulatory standards set by Bank Negara Malaysia (BNM). [1, 2]
Compliance & Anti-Money Laundering (AML) Policy
At LWORLD VENTURE SDN BHD (Company No: 202201018536 / 1464233-V), we are committed to upholding the highest standards of transparency, trustworthiness, and reliability. We maintain strict compliance with the laws of Malaysia, specifically the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA). [2, 3]
As a premier physical gold trading gateway, we actively support the regulatory efforts of Bank Negara Malaysia (BNM) to prevent financial systems from being used for money laundering, terrorism financing, or proliferation financing. [1, 2]
🛡️ Core Pillars of Our Compliance Framework
To ensure ethical operations and prevent financial crimes, our compliance framework relies on five central pillars: [4]
- Designated Compliance Officer: We maintain a certified Compliance Officer registered directly with Bank Negara Malaysia to oversee implementation and regulatory reporting.
- Rigorous Customer Due Diligence (CDD): We verify the clear identity of every client before finalizing any transactional engagements.
- Independent Audits: We perform ongoing risk assessments and periodic internal reviews to safeguard system integrity.
- Employee Training: Every staff member undergoes continuous training to properly spot and address red flags.
- Strict Record Keeping: We safely preserve all digital files, identification proof, and trade records. [4, 5, 6, 7, 8, 9]
👤 Customer Due Diligence (CDD) & KYC
We apply a strict Know Your Customer (KYC) program to confirm client identities and verify the clean source of funds before performing physical gold transactions. [2, 5]
Transaction Thresholds
- Transactions below MYR 25,000: Standard retail processing.
- Transactions of MYR 25,000 and above: Mandatory full customer verification and documentation in compliance with BNM thresholds. [10]
Required Verification Documents
When creating an account or completing high-value trades, clients must provide: [7]
| Client Type | Required Documentation |
|---|---|
| Individuals / Retail Buyers | • Valid NRIC (Malaysian Citizens/Residents) • Valid Passport (Foreign Nationals) • Current Residential Address Proof • Source of Funds Declaration |
| Corporate Entities / Businesses | • Certificate of Incorporation (SSM) • Board Resolution authorizing the trade • Identification documents of Directors & Authorised Personnel • Ultimate Beneficial Owner (UBO) information |
🚩 Transaction Monitoring & Red Flags
Our dedicated compliance team reviews trading activities closely to spot anomalies. We pause transactions and investigate if any of the following red flags appear: [11, 12]
- Payments split deliberately to sit just under the MYR 25,000 regulatory tracking limit.
- Structuring large trades with unexpected stacks of cash rather than traceable wire transfers.
- Client hesitation or flat refusal to provide standard KYC identity documents.
- Transactions involving politically exposed persons (PEPs) or individuals from high-risk geographic areas. [10, 11, 12, 13]
If any activity shows suspicious indicators, our Compliance Officer will file a Suspicious Transaction Report (STR) directly to the Financial Intelligence and Enforcement Department of Bank Negara Malaysia. [6, 14]
💾 Record Keeping Policy
In compliance with statutory requirements under Malaysian law, LWorld keeps comprehensive logs of all transaction receipts, customer profiles, and official paperwork for a minimum period of seven (7) years from the date of the trade or account termination. All gathered records remain strictly confidential and are stored securely to protect client privacy. They will only be shared with authorized law enforcement agencies upon receiving formal legal summonses. [5, 10]
🌍 Responsible Gold Sourcing Statement
LWorld only distributes and saves bullion refined and minted by certified London Bullion Market Association (LBMA) refineries. We adhere to strict global supply chain standards and will not participate in, support, or facilitate: [15, 16]
- Illegal mining setups or operations.
- Human rights abuses, forced labor, or unsafe child labor conditions.
- Financing of armed conflicts or illicit, sanctioned entities. [15, 16]
✉️ Contact Our Compliance Team
For legal inquiries, regulatory clarifications, or to update your identity profile, please contact our compliance department:
- Company Name: LWORLD VENTURE SDN BHD
- Office Address: C-1-15, Savana Lifestyle Retail, Jalan BBLS 2, Bandar Baru Lembah Selatan, 43800 Dengkil, Selangor Darul Ehsan, Malaysia.
- Email: admin@lworld.com.my
- Mobile / WhatsApp: +6 014 933 7479
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