© Copyright PETRONAS Dagangan Berhad 198201008499 (88222-D).
All rights reserved.
PETRONAS Dagangan Berhad (PDB) refers to the announcement issued by Bank Negara Malaysia (BNM) in relation to regulatory findings involving Setel Ventures Sdn. Bhd. (Setel), a subsidiary of PDB.
The matters relate to items identified through Setel's internal reviews in late 2023. Upon early identification, Setel proactively reported these findings to BNM and has since maintained close and constructive engagement with the regulator throughout the review process. Importantly, these matters did not involve any customer transactions or impact customer funds.
Setel has since implemented the necessary remediation measures to address the identified gaps and has further strengthened its internal processes and controls. These enhancements have been fully embedded into current operations to ensure continued alignment with regulatory expectations.
Setel remains committed to operating in full compliance with regulatory requirements and to upholding the confidence and trust of its customers and stakeholders.
Setel is regulated by BNM as a non-bank electronic-money (e-money) issuer.
