BNM: Licensed money changers have adequate supply of currencies
KUALA LUMPUR: Bank Negara Malaysia ( BNM) has assured the public that the recent incident of currency theft as reported in the media has not affected the overall supply of currencies for money changers to meet demand.
In a statement yesterday, BNM said consumers could continue to obtain and exchange foreign currencies at licensed money changers located throughout the country.
“The affected money changer and currency wholesalers have lodged police reports, and the case is currently being investigated by the police.
“BNM is also conducting an independent review of the incident to determine if there were any breaches of regulations by licensed money changers and currency wholesalers. Appropriate enforcement action will be taken if a breach is established,” it added.
The central bank said it would continue to monitor closely the effectiveness of controls and risk mitigations implemented by licensed money service businesses to ensure reliable and efficient provision of currency exchange services.
It said an increasing number of money services companies were leveraging on technology to enhance controls, improve service delivery and reduce reliance on physical currencies in the overall currency handling and exchange operat ions. — Bernama