Ethics and integrity at the forefront
THE increase in financial crime worldwide presents a great systemic risk to the integrity of the global financial system and society as a whole. Current research reveals that these crimes cost the global economy approximately US$1.45 trillion (RM6.08 trillion) while in Asia Pacific, estimates stand at Us$166bil (Rm696bil).
Governments, law enforcement agencies and regulators are calling for greater transparency, accountability and collaboration to further raise awareness of this global issue and develop new, innovative and effective ways to fight financial crime. There is also a need for fundamentally stronger ethics and integrity as the first line of defence against this threat.
As the sole professional body for bankers, it is important for the Asian Institute of Chartered Bankers (AICB) to continue to instil in bankers the relevant knowledge and values to make ethical conduct and integrity a key priority in their professional practice. The element of trust is crucial in building a strong professional and ethical banking ecosystem as bankers are the frontliners who play a pivotal role in safeguarding a nation’s financial system.
With more than 30,000 members, AICB is the sole professional body for the banking industry in Malaysia. It aims to elevate the professional and ethical standards of banking by creating a workforce that advocates the highest standards of professional conduct, knowledge and competence.
As part of its thought leadership initiatives to raise the level of professionalism and ethics in banking, it believes in the importance of ethics training not only in theory but also in practice – learning from real-life situations and case studies.
Therefore, AICB is organising the 11th International Conference on Financial Crime and Terrorism Financing (IFCTF 2019) on Nov 5 and 6 at Shangri-la Hotel, Kuala Lumpur. Themed “Building Trust and Transparency: Collaborate, Accelerate, Strengthen”, IFCTF 2019 will provide an important platform for the anti-financial crime community in Malaysia and beyond to further network and strengthen collaboration to fight financial crime and continue significant discussions on the importance of transparency and building trust in the financial industry.
From real-world case studies and engaging discussions on fraud, combating corruption and bribery, conduct risk, proliferation financing, cybersecurity, tax evasion and abuse to highlights on regulatory updates, digital disruptors and new technologies, IFCTF 2019 effectively brings together the world’s thought leaders and top experts to raise awareness on the exigency of financial crime and share insights and solutions to tackle this global epidemic.
Through the IFCTF platform, AICB continues to emphasise its core values of accountability, integrity, competence and professionalism and support the growth of its members through innovative learning, advocating professionalism, advancing thought leadership and facilitating networking opportunities.
IFCTF 2019 is expected to draw more than 800 delegates from the public and private sector, including regulators and banking and financial practitioners. The special address will be delivered by Prime Minister Tun Dr Mahathir Mohamad.
■ For more information, visit www.aicb.org.my