Corporate Governance
In alignment with Axiata Group Berhad, Boost Bank abides by the core values of uncompromising integrity and exceptional performance. We commit to conducting business with zero tolerance to any forms of bribery and corruption.
Boost Bank Berhad (Boost Bank) undertakes all measures to stop persons suspected of money laundering and terrorism financing from using Boost Bank's services and products. This is part and parcel of Boost Bank's efforts to support the Government of Malaysia's and Bank Negara Malaysia's ongoing efforts and attempts to prevent the exploitation of the Malaysian banking system for money laundering and terrorism financing. By establishing strong and comprehensive policies, procedures, processes, and systems for the prevention and detection of money laundering and terrorist financing activities, Boost Bank is fully committed to adhering to the highest standards of compliance with the requirements of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 and the Anti-Money Laundering/Counter Financing of Terrorism requirements of the relevant regulatory authorities.
Any customer who is interested in applying for a product or service at Boost Bank must go through the "Know Your Customer" (KYC) procedure, which is regulated by Bank Negara Malaysia and any other applicable regulators in the jurisdictions where we do operations. Boost Bank is responsible for recognizing and comprehending its customers and the financial crime risk they pose, given the current regulatory focus on strong governance and risk culture.
We have established a framework through our KYC procedures that will assist in getting to know you, establishing a sustainable relationship, and assisting in safeguarding you from potential risks of financial crime.
The legislation referred to as the Foreign Account Tax Compliance Act (FATCA) of 2010 was passed to combat tax evasion in the United States.
Payments made to specific foreign financial institutions and other foreign entities are subject to a new information reporting and withholding regime established by FATCA.
The FATCA regulations came into force on July 1st, 2014. FATCA will have an impact on customers who are classified as "U.S. Persons" for tax purposes, including Individuals and Businesses. Boost Bank is committed to complying to FATCA regulations. Please visit the U.S. IRS website for additional information regarding FATCA.
Boost Bank is committed to protecting personal data of our customers, business customers, business partners and suppliers, visitors, applicants, candidates and beneficiaries and personal data of individuals who work for, or act on behalf of, our customers, business customers, business partners, suppliers, and/or such applicants, candidates and beneficiaries (collectively, "data subject") that have been provided to us. In Boost Bank, we take privacy seriously and all our activities are underpinned by our T.R.U.S.T. principles of being Transparent, respecting your Rights, in our use of your personal data, through our cyber security practices, and we take due care when transfer of data is required.
For Privacy Notice in English, please click here.
For Privacy Notice in Bahasa Malaysia, please click here.
At Boost Bank, we are committed to fostering a culture of integrity and transparency. Consequently, the Bank has established a Speak Up channel and policy to encourage our employees, business partners, clients, and members of the public to raise concerns on any misconduct or illegal/unethical behaviour without fear of retaliation. Click here for more information.
Boost Bank recognises and strongly believes that its stakeholders are fundamental to the successful pursuit of its business goals. Boost Bank strongly upholds its beliefs and core values of Uncompromising Integrity and Exceptional Performance. It is committed to zero tolerance of any forms of bribery and corruption in the course of its business. The Boost Bank’s belief is that no one business opportunity or relationship is valued more than the brand and reputation of Axiata, its subsidiaries, associates, and investee companies. (ABAC-Policy-Statement.pdf (phpstack-1055575-3699675.cloudwaysapps.com).