BNM Governor to open financial crime and terrorism financing conference

  • Banking
  • Wednesday, 27 Sep 2017

Strong reaction: Bank Negara Malaysia, headed by Governor Datuk Muhammad Ibrahim (above) chose to express its anger against Singapore

KUALA LUMPUR: Bank Negara Malaysia (BNM) Governor Tan Sri Muhammad Ibrahim will deliver the keynote speech at the 9th International Conference on Financial Crime and Terrorism Financing (IFCTF).

The two-day conference, which starts on Oct 4 and to be held here, will explore emerging trends in financial crime and the next generation of detection and technological capabilities required to meet regulatory expectations.

The theme of the conference is “Future proofing compliance: Responsibility and response-ability”, according to the joint organisers, Asian Institute of Finance (AIF) and the Compliance Officers’ Networking Group (CONG). It is fully supported by  BNM and the Securities Commission.

AIF said with the threats of financial crime continuing to evolve at an alarming speed, regulators, governments and other international bodies expect financial institutions (FIs) to build structures and processes to ensure the integrity of the financial system. 

It said at the same time, compliance professionals must future proof their functions to address new threats and rising costs while meeting regulatory demands. 

The organising committee of this year’s conference is chaired by V Maslamani, Chairman of CONG and chief compliance officer of Al Rajhi Bank. 

Maslamani said the topics are to provide an outlook to participants and anti-money laundering/counter financing of terrorism (AML/CFT) practitioners. 

“The conference will assemble international experts and industry specialists to provide insight on current and future criminal threats as well as specify plans and strategies for compliance professionals to respond quickly and effectively to these threats.”

AIF CEO, Dr Raymond Madden said following the success of IFCTF for the last eight years, we expect to draw more than 500 delegates this year including senior compliance professionals from regional and global banks and other financial institutions.”

Other speakers at the conference include senior representatives from both domestic and international agencies as well as private sector experts, covering topics such as cybersecurity, the dark web, cryptocurrencies and terrorism financing, among others. 

Speakers from BNM, Royal Malaysia Police, CyberSecurity Malaysia, FBI, the US Department of Justice and the Malaysian Anti–Corruption Commission, as well as a range of major financial organisations and industry suppliers will participate in the two-day conference. 

AIF is a think tank jointly established by BNM and the SC to enhance human capital development and talent management across the financial services industry in Asia. 
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