TNG Digital Leads the Charge in Accountability and Cooperates with BNM to Uphold Highest Compliance Standards

Sep 4, 2023
TNG Digital Leads the Charge in Accountability and Cooperates with BNM to Uphold Highest Compliance Standards

Bank Negara Malaysia imposes an Administrative Monetary Penalty on TNG Digital Sdn. Bhd. for non-compliances with the Financial Services Act 2013. (


In cooperation with Bank Negara Malaysia's ("The Bank") unwavering standards in compliance measures, TNG Digital Sdn. Bhd. (“TNGD”) has proactively come forward to The Bank with its own discoveries during periodic compliance review. Even though the actual breaches occurred more than 3 years ago and their total transactions on the TNGD platform were minimal, TNGD still treated these breaches with utmost seriousness and promptly reported them to the Bank.


In the company’s report submitted to Bank Negara Malaysia, TNGD informed the Bank of the discovered made regarding sanctioned users. TNGD also conducted a thorough review and made improvements to the internal procedures and systems to prevent future occurrences.


As a business that upholds transparency and accountability, TNG Digital is fully committed to complying with Bank Negara Malaysia's standards. Given the significant reliance of our base of over 21 million users that rely on us for their daily transactions, we promptly report these two (2) cases that contravene the Financial Services Act 2013 (FSA), in accordance with:

a.    the Anti-Money Laundering and Counter Financing of Terrorism – Electronic Money and Non-Bank Affiliated Charge & Credit Card (Sector 4) policy document [2] (AML/CFT Sector 4 PD); and

b.    the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions policy document (AML/CFT and TFS for FIs PD).


Alan Ni, CEO of TNG Digital Sdn. Bhd., highlighted, “In support of the recent announcement made by Bank Negara Malaysia, TNGD is using these cases as a prime example of our strong compliance with BNM’s regulations and policies. With our users as our top priority, we aim to reinforce their confidence in the compliance of our platform. We will continue to cooperate with Bank Negara Malaysia, adhere to protocols, and practice highest standard of self-accountability.”