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Zerin Properties adopts HaloCheck.xyz to comply with Bank Negara's AML/CFT requirements

PETALING JAYA (Jan 6): Zerin Properties adopted HaloCheck.xyz — the country’s first instant background check mobile web app — in compliance with Bank Negara Malaysia's (BNM) AML/CFT requirements (for anti-money laundering and countering financing of terrorism).

This move makes Zerin Properties the first real estate agency in Malaysia to do so. In a statement, Zerin Properties founder, managing director and chief executive officer Previndran Singhe said that the main reason the agency went with HaloCheck.xyz is due to the opportunity to use technology as an avenue to comply with what the central bank requires and to fulfil its clients’ requirements.

“It’s a far cry from what we used to do before, so this has really made our job much easier. I think the level of trust is definitely what customers want and by virtue of that, we can get this [done] quickly, safely and reliably — I think the customers are comforted,” Previndran added.

BNM's AMLA policy (for the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001) mandates that reporting institutions must have adequate procedures to protect businesses, professionals and any assets they may have. HaloCheck.xyz simplifies the AML/CFT process, whereby in less than two minutes, all Zerin Properties agents can meet compliance and conduct customer due diligence, meeting the central bank’s strict requirements. 

HaloCheck.xyz founder and managing director Mark Leow, meanwhile, opined that complying with the AML/CFT requirements does not have to be complicated. 

“We are very happy that Zerin Properties chose our e-KYC (electronic know-your-customer) and instant background screening technology to help them meet BNM’s AML/CFT requirements. Professionals don’t have time to waste, so we designed a fast, easy [and] reliable solution. Now, meeting compliance takes less than two minutes — from signing up to completing a check. Customers can identify and verify their clients from their mobile or desktop browsers anytime, anywhere,” added Leow.

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