European Proceedings Logo

Digital Currency Perception: Preliminary Evidence From Malaysia

Table 4:

Scale Items Mean SD
Digital currency exchangers are required:
To keep updated with the resolutions passed by UNSC on counter terrorism measures 3.72 0.967
To ensure that the information contained in the database is updated and relevant, and made easily accessible to its employees 3.87 0.911
To include in their database of the other recognized lists of designated persons or entities issued by other jurisdictions 3.71 0.980
To conduct checks on the names of new beneficial owners, as well as regular checks on the names of existing beneficial owners, and potential beneficial owners against the names in the database 3.76 0.908
If any name match, digital currency exchange must verify & confirm identity of its beneficial owners, once confirmation have been obtained, they must immediately:
Freeze the beneficial owner’s funds or block the transaction 3.92 1.176
To eject the potential beneficial owner, if the transaction has not commenced 3.68 1.011
To submit a suspicious transaction report 3.79 1.013
To inform the relevant supervisory authorities 3.88 0.954
Digital currency exchangers are required:
To identify any transaction or account that may be indirectly controlled by individual listed in the database 3.74 0.938
To submit a suspicious transaction report when there is an attempted transaction by any of persons listed in the UN (Terrorism) list 3.74 0.938
To ascertain potential matches with the database to confirm whether they are true matches to eliminate “false positives” 3.75 0.870
To make further inquiries of the beneficial owner to assist in determining whether the match is a true match 3.73 0.834
< Back to article

We care about your privacy

We use cookies or similar technologies to access personal data, including page visits and your IP address. We use this information about you, your devices and your online interactions with us to provide, analyse and improve our services. This may include personalising content or advertising for you. You can find out more in our privacy policy and cookie policy and manage the choices available to you at any time by going to ‘Privacy settings’ at the bottom of any page.

Manage My Preferences

You have control over your personal data. For more detailed information about your personal data, please see our Privacy Policy and Cookie Policy.

These cookies are essential in order to enable you to move around the site and use its features, such as accessing secure areas of the site. Without these cookies, services you have asked for cannot be provided.

Third-party advertising and social media cookies are used to
(1) deliver advertisements more relevant to you and your interests;
(2) limit the number of times you see an advertisement;
(3) help measure the effectiveness of the advertising campaign; and
(4) understand people’s behavior after they view an advertisement.
They remember that you have visited a site and quite often they will be linked to site functionality provided by the other organization. This may impact the content and messages you see on other websites you visit.