AI-generated illustration | Source : BNM
KUALA LUMPUR, November 6, 2026 — Bank Negara Malaysia (BNM) has taken enforcement action against two entities, Najmuldin Exchanger and Nusantara Global Network, for suspected contravention of the Financial Services Act 2013 (FSA) by advertising the buying and selling of foreign currency without the central bank’s written approval.
In a public notice issued on November 6, BNM said the action was carried out on November 3, 2026, with the assistance of the Royal Malaysia Police (PDRM), as part of its continuous enforcement efforts to safeguard the public against potential financial risks associated with the unauthorised buying and selling of foreign currency.
A total of four premises in various parts of Kedah and Perak were searched, and relevant documents, equipment, books and digital devices were seized to facilitate the investigation, the central bank said.
The two entities are being investigated under subsection 214(2), read together with paragraph 1(b) of Schedule 14 of the FSA. BNM explained that paragraph 1(b) of Schedule 14 prohibits any person from directly or indirectly advertising the buying or selling of foreign currency unless that person is licensed, authorised or approved in writing by BNM.
Under subsection 214(2), any person who contravenes a prohibition specified in Schedule 14 commits an offence. Anyone convicted is liable under subsection 214(9) to imprisonment for a term not exceeding 10 years, a fine not exceeding RM50 million, or both.
BNM advised members of the public to refrain from participating in unlicensed or unregistered entities offering or advertising foreign currency-related services, warning that doing so may result in their being complicit in illegal activities.
Members of the public with information on any person or entity suspected of advertising or facilitating the buying or selling of foreign currency without authorisation may report it to BNM through bnm.gov.my/BNMLINK or by calling 1300-88-5465. Further information on illegal financial schemes and BNM’s enforcement actions is available at bnm.gov.my/enforcement-actions.
The enforcement action was also reported by Bernama, The Edge Malaysia and the New Straits Times.
Source: Bank Negara Malaysia public notice, November 6, 2026, and BNM’s X account.
Source post: Bank Negara Malaysia on X | Source: https://www.bnm.gov.my/-/eapn1126
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