Digital AML Governance in Transition: A Comparative Institutional Analysis of Malaysia and Indonesia

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Qualitative analysis highlights contrasting regulatory strategies in Malaysia and Indonesia, suggesting a need for ASEAN-wide harmonization.

Malaysia's centralized AML ecosystem drives higher adoption of RegTech innovations like e-KYC and AI monitoring, enhancing effectiveness.
Indonesia's decentralized financial landscape leads to regulatory fragmentation, hindering uniform implementation and revealing persistent skills gaps.
Qualitative content analysis of national reports and institutional documents unveils eight thematic areas critical for AML governance improvement.
Policy frameworks and institutional maturity are vital for a resilient AML regime, indicating areas for ASEAN regulatory capacity building.

Shafie et al. (2025) studied this question.

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Qualitative analysis highlights contrasting regulatory strategies in Malaysia and Indonesia, suggesting a need for ASEAN-wide harmonization.