The Asian Institute of Chartered Bankers (AICB) has gathered over 50 global experts and more than 1,200 banking professionals at the 15th International Conference on Financial Crime and Counter Terrorism Financing (IFCTF) in Kuala Lumpur. Held from 4 to 6 November 2025, the event aims to address the escalating rates of financial crime through AI-driven solutions and cross-border collaboration.
Malaysia has reported RM112 billion in online fraud losses in the first half of 2025, with scam-related losses reaching nearly RM192 billion by September. These figures underscore the urgent need for enhanced cooperation and advanced technology to combat financial crime. The conference, supported by Bank Negara Malaysia, the Securities Commission Malaysia, and the Labuan Financial Services Authority, focuses on AI-enabled fraud detection and machine learning-driven compliance.
In his opening remarks, Bank Negara Malaysia Governor Abdul Rasheed Ghaffour emphasised the importance of ethics in sustaining trust within the financial industry. “No algorithm can replace the judgement, integrity, and accountability expected of the financial industry,” he stated. AICB Chairman Tan Sri Azman Hashim highlighted the alignment between innovation and integrity, noting that “our strength lies in our people—skilled, principled, and vigilant.”
The conference also aligns with Malaysia’s broader commitment to reform, as reflected in Budget 2026, which allocates RM32 million to strengthen legal frameworks and combat scams. The introduction of a new Cyber Crime Bill and expanded capabilities for the National Scam Response Centre are part of these efforts.
Now in its 15th year, IFCTF remains ASEAN’s leading platform for financial crime prevention and compliance excellence, reinforcing AICB’s dedication to advancing digital literacy and ethical leadership in the banking sector.
