KUALA LUMPUR, Nov 5 (Bernama) -- Bank Negara Malaysia (BNM) has called upon the financial industry to harness the principles of collaboration, creativity and conduct in addressing new challenges and safeguarding the integrity of the financial ecosystem.
BNM Governor Datuk Seri Abdul Rasheed Ghaffour said the evolving digital and financial landscape requires greater agility and collaboration to combat threats; thus, the swift sharing of information and expertise is essential in efforts to fight against financial crimes.
He highlighted that the National Scam Response Centre (NSRC) serves as a collaborative platform for government agencies, financial institutions, and the communications industry.
“The NSRC now operates 24 hours a day to receive reports, trace, freeze, and recover scammed funds.
“As of the third quarter of 2025, it has received 263,683 calls. It has successfully seized RM12.91 million, and RM1.99 million of stolen funds have been returned to victims,” he said in his opening remarks at the 15th International Conference on Financial Crime and Terrorism Financing (IFCTF) here today.
Abdul Rasheed said collaboration is essential in fighting emerging crimes, as evidenced by the rise of crimes facilitated by technology, particularly via social media and streaming platforms.
As for creativity, he said, “anti-money laundering (AML) measures and infrastructure cannot remain stagnant when it comes to tackling financial crimes.”
He said the financial industry must explore creative solutions and leverage the latest technology.
In terms of conduct, he noted that cases of fraud and corruption within the industry showed that the financial industry must improve its conduct and send a clear message that unethical employees and bad actors must be penalised for misconduct.
“As technology and artificial intelligence reshape compliance and AML, we must remember that personal conduct and ethics are what ultimately sustain trust.
“No algorithm can replace the judgment, integrity and accountability expected of the financial industry,” he said.
-- BERNAMA
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