Kuala Lumpur, 29 April 2026 – Bank Negara Malaysia has imposed administrative monetary penalties totalling RM1.56 million on two Zurich Malaysia entities over failures linked to targeted financial sanctions compliance, reinforcing the central bank’s tougher expectations on screening, reporting and customer due diligence across the financial sector.

The penalties involved Zurich General Insurance Malaysia Bhd, which was fined RM1.04 million, and Zurich General Takaful Malaysia Bhd, which was fined RM520,000. The enforcement action was related to non-compliance with targeted financial sanction requirements identified on 19 January 2026.

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Abigail Cheong
I am Abigail, a journalist at The Ledger Asia, covering business and finance with a focus on the Malaysian Stock Market and key economic developments across Asia. Known for clear, accessible reporting, I deliver insights that help readers understand market trends, corporate movements, and regional news shaping the Asian economy.