  In the light of the recent measurement of the muon anmalous magnetic moment
$a_\mu$ by the Muon $(g-2)$ Collaboration, we examine the contribution to
$a_\mu$ from the exchange of flavor changing scalars. Assuming that the heavier
generations have larger flavor changing couplings, we obtain a bound on $\mu -
\tau$ Yukawa coupling for a given scalar mass. Constraints on other flavor
changing/conserving couplings are also obtained from the lepton flavor
violating decays of muon and tau lepton, and bounds on the branching ratio of
$\tau \to 3 e$, $\mu \to 3 e$ and $\tau \to e \mu e$ processes are predicted.
