{
  "id": 3698170,
  "title": "Setel takes remedial steps after RM637,000 Bank Negara penalty",
  "url": "https://urgent.news/2026/08/27/setel-takes-remedial-steps-after-rm637-000-bank-negara-penalty-3698170",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-27T07:31:00.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today-freemalays",
    "url": "https://www.freemalaysiatoday.com/category/nation/2026/08/27/setel-takes-remedial-steps-after-rm637-000-bank-negara-penalty"
  },
  "original_language": "en",
  "account": "Bank Negara Malaysia (BNM) imposed a RM637,500 administrative monetary penalty on Petronas Dagangan Bhd's subsidiary, Setel Ventures Sdn Bhd (Setel) on April 15. The penalty was issued for failing to promptly update its sanctions database following the publication of the Domestic List, which lists entities designated for anti-money laundering and terrorism financing purposes. Setel notified the regulator of the issues and has since worked closely with BNM to address regulatory gaps identified in late 2023. These gaps were due to shortcomings in Setel's Standard Operating Procedures and sanctions screening system. Setel paid the fine on May 6, and the company reiterates its commitment to operating in full compliance with regulatory requirements and maintaining customer trust.",
  "summary": "Petronas Dagangan says the regulatory gaps identified by the central bank did not involve customer transactions or impact customer funds.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Malay Mail",
        "title": "Petronas Dagangan’s Setel says regulatory gaps fixed after RM637,500 BNM penalty",
        "url": "https://urgent.news/2026/08/27/petronas-dagangans-setel-says-regulatory-gaps-fixed-after-rm637-500",
        "published": "2026-08-27T07:30:14.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "Setel takes remedial steps after RM637,000 Bank Negara penalty",
        "url": "https://urgent.news/2026/08/27/setel-takes-remedial-steps-after-rm637-000-bank-negara-penalty",
        "published": "2026-08-27T07:31:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}