In a statement today, BNM said the AMP amounts, imposed on July 22 last year, had been paid by the institutions involved, namely Malayan Banking Bhd (Maybank), RHB Bank Bhd, Maybank Islamic Bhd and AmInvestment Bank Bhd.

Maybank and RHB Bank paid RM750,000 each, while Maybank Islamic paid RM150,000 and AmInvestment Bank RM10,000.

BNM said the financial institutions committed non-compliances associated with late, incomplete and/or inaccurate submissions of critical data related to financials and payments, external assets and liabilities, cash balance of payments and borrower’s credit information.

“(These non-compliances) may impact analysis, decision-making and publications by BNM.

“Common root causes of these non-compliances include unresolved issues affecting financial institutions’ internal IT systems, incorrect application of statistical requirements and inadequate operating procedures,” said the central bank.

BNM said the financial institutions had taken remedial steps to address these issues, including system enhancements, strengthening processes for validating submissions and providing additional staff training.

“Erroneous submissions have been fully rectified and did not affect releases of aggregate data by BNM for the relevant reporting periods,” it said.