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A remittance is a transfer of funds to an overseas account. For example, if you need to send money to your child who is studying overseas or help your maid to send money back to her country, you may do so by arranging for a remittance with an authorised remittance agent.
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Do not use unauthorised dealers to remit money as you may face the risk that the money sent does not reach the recipient. Also you may not be able to seek help from the authority on your transaction if there is any dispute. If you send money through unauthorised agents, your transaction is called illegal remittance.
They normally operate on a small scale
They claim that they are able to provide remittance services efficiently, without the need for any documents or identification
They rarely use documents to validate and verify transactions
Remember, there are no money back guarantees if you deal with illegal remittance agents, Therefore, if you suspect someone is involved in this activity, you can lodge a report with Bank Negara Malaysia at the following address:
Address and phone number:
Corporate Communications Department,
Bank Negara Malaysia,
P.O. Box 10922,
50929 Kuala Lumpur.
Contact : 1300-88-5465 (LINK)
Fax : 603-2174-1515
E-mail : bnmtelelink@ bnm.gov.my

Bank Negara Malaysia continuously monitors feedback and reports on illegal remittance activities. Monies seized from illegal remittance agents are confiscated and the operators will be punished according to the law. The Investigation Unit at Bank Negara Malaysia regularly conducts raids on suspected agents providing these services.
Our booklet on Illegal Transactions in Foreign Currencies explains more about illegal remittance and other illegal transactions such as illegal foreign currency trading which is available for download.