IFCTF 2012 to address insurance fraud, cyber secruity issues
For the second time around, the Accounting Research Institute (ARI) will be collaborating closely with the Compliance Officer Networking Group (CONG), financial institutions and other agencies to co-organize the International Conference on Financial Crime and Terrorism Financing
2012 (IFCTF 2012). Themed "Compliance,
Challenges and Effectiveness: The Next Level", IFCTF 2012 is a continuance from the
previous 2011's "Raising The Bar In Compliance And Enforcement". In a recent interview with Bernama, CONG Chairman, Mad Yusof Yazid said that IFCTF 2012 will address insurance fraud, cyber security and cash movement. The inclusion of cyber security into
the conference was due to the growing threat especially of Internet scams in
the country involving financial institutions. "The
inclusion of insurance fraud will give a better scope and coverage of the
financial sectors as the insurance sector is another growing area of fraud and
potential anti-money laundering target," he said. It
would also increase the industry awareness towards insurance fraud and threat
and able to share the best practices from other parts of the world in terms of
managing and detecting fraud and money laundering. During
the event, he said there would also be a session to discuss the implementation
of the new guidelines by the Financial Action Task Force (FATF), an
international body to develop policies to combat money laundering and terrorism
financing. "It
will be a good avenue for the regulators and also the banks to actually to
understand how the new recommendations will affect us and find the best way to
execute it, he said. CONG has invited up to 40 speakers to give presentations
including prominent figures from the World Bank, Asia Pacific Group (APG), AUSTRAC Australia, Royal Customs of
United Kingdom, Bank Negara Malaysia (BNM), Royal Malaysian Customs,
Security Commission, Malaysian Anti-Corruption Commission, representatives from
universities and notable compliance officers from other parts of the world such
as Hong Kong. IFCTF 2012 will he held on 24-25 September at the Shangri La Hotel in Kuala Lumpur.
For the second time around, the Accounting Research Institute (ARI) will be collaborating closely with the Compliance Officer Networking Group (CONG), financial institutions and other agencies to co-organize the International Conference on Financial Crime and Terrorism Financing
2012 (IFCTF 2012). Themed "Compliance,
Challenges and Effectiveness: The Next Level", IFCTF 2012 is a continuance from the
previous 2011's "Raising The Bar In Compliance And Enforcement". In a recent interview with Bernama, CONG Chairman, Mad Yusof Yazid said that IFCTF 2012 will address insurance fraud, cyber security and cash movement. The inclusion of cyber security into
the conference was due to the growing threat especially of Internet scams in
the country involving financial institutions. "The
inclusion of insurance fraud will give a better scope and coverage of the
financial sectors as the insurance sector is another growing area of fraud and
potential anti-money laundering target," he said. It
would also increase the industry awareness towards insurance fraud and threat
and able to share the best practices from other parts of the world in terms of
managing and detecting fraud and money laundering. During
the event, he said there would also be a session to discuss the implementation
of the new guidelines by the Financial Action Task Force (FATF), an
international body to develop policies to combat money laundering and terrorism
financing. "It
will be a good avenue for the regulators and also the banks to actually to
understand how the new recommendations will affect us and find the best way to
execute it, he said. CONG has invited up to 40 speakers to give presentations
including prominent figures from the World Bank, Asia Pacific Group (APG), AUSTRAC Australia, Royal Customs of
United Kingdom, Bank Negara Malaysia (BNM), Royal Malaysian Customs,
Security Commission, Malaysian Anti-Corruption Commission, representatives from
universities and notable compliance officers from other parts of the world such
as Hong Kong. IFCTF 2012 will he held on 24-25 September at the Shangri La Hotel in Kuala Lumpur.
