What the Financial Services Act 2013 Does
Not every law touching your account is a freeze law: here is where this Act fits.
Sources checked 2026-09-17 to 2026-09-29
What the Financial Services Act 2013 is for
The Financial Services Act 2013 (FSA) is one of Malaysia’s main banking laws. It is the law under which licensed banks are regulated and supervised.
It supports Bank Negara Malaysia’s role in supervising the banking system [f1]. Think of it as the rulebook for how banks are licensed and run, not a tool aimed at one customer.
Why people mix it up with a freeze
When your account is frozen, you may search for the law behind it and find the Financial Services Act. Its name sounds as if it covers everything about your bank.
In practice, the freeze powers described on this page come from other laws. The FSA sets the rules for the banking system. Other laws give the direct power to freeze an account.
The laws that actually freeze accounts
Two powers behind a freeze are these. Under the Anti-Money Laundering Act (AMLA), the Public Prosecutor may order a freeze on accounts suspected of holding money from crime [f2].
Under the 2024 amendment to the Criminal Procedure Code, a police officer of Sergeant rank or above may freeze an account at once, without a court order [f3]. Neither of these is the FSA, so find out which power was used on your account.
How the FSA affects ordinary customers
The Act mostly works in the background. It sets the rules banks must follow as institutions supervised by Bank Negara [f1].
You feel it through the standards banks must meet, not as a law used against you personally. Reading the FSA will not tell you why your account was frozen. Ask which power touched your account, and which body used it.
What the FSA does not decide
The FSA does not decide whether you committed an offence. Questions of guilt fall under other laws.
If you are under criminal investigation, your rights stay the same. Article 5(3) of the Federal Constitution gives you the right to consult and be defended by a lawyer of your choice [f5].
Where to complain about a bank
If your problem is how a bank treated you, start with the bank’s own complaint process and keep records.
You can then contact BNMLINK on 1-300-88-5465 [f1]. If the dispute is still not settled, you can take it to the Financial Markets Ombudsman Service (FMOS) [f4].
Working out which law applies
A complaint about bank service is not the same as a criminal freeze on your account [f2] [f3]. Ask the bank or the investigating officer to name the specific power used.
If your account was frozen under AMLA or by the police, a lawyer can explain what that power allows and what you can apply for. Get that advice before you give a detailed statement.
Sources
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What does the Financial Services Act 2013 do?
It is the main law Bank Negara Malaysia uses to license and supervise banks [f1]. It sets the rules for how banks are licensed and run their business. It is not the power used to freeze one person's account.
Is my account frozen under the Financial Services Act?
How does the FSA affect me as a customer?
Where do I go if a bank treats me unfairly?
Related pages
If your situation is a little different, these pages cover the closest topics.
Need a Lawyer for Your Frozen Account Case?
Request Lawyer ContactFor people seeking legal representation. For general information, use our guides and tools.
Independent information resource, not a law firm. We do not provide legal advice. Where appropriate and with your consent, we can connect you with an independent lawyer. Availability and acceptance of a case are not guaranteed. How referral works