Setel has taken remediation measures following Bank Negara's findings
Setel Ventures, a subsidiary of Petronas Dagangan, has implemented remediation measures following a regulatory review by Bank Negara Malaysia. The company paid a monetary penalty for failing to update its sanctions database in a timely manner.
Why it matters
It highlights the importance of regulatory compliance for fintech and e-money issuers in the evolving digital financial landscape.
KUALA LUMPUR: Petronas Dagangan Bhd ’s subsidiary, Setel Ventures Sdn Bhd (Setel), has implemented the necessary remediation measures to address gaps identified in regulatory findings by Bank Negara Malaysia (BNM), while further strengthening its internal processes and controls.
The article reports on regulatory actions and corporate responses in a factual, objective manner.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in