Kenanga Investment Bank champions fraud prevention and detection in its 7th annual fraud awareness campaign.

Held in conjunction with the International FAW of the Association of Certified Fraud Examiners ("ACFE"), FAW stands as a manifestation of our unwavering commitment to combat fraud. This comprehensive month-long fraud awareness campaign features a range of virtual programmes, including the Opening Ceremony and the FAW Games, all while aligning with the United Nations Global Compact's 10^th Principle, which emphasises on the necessity for businesses to actively combat corruption in all its forms.

The FAW Games, featuring interactive anti-fraud games and quizzes, witnessed a surge in participation, marking a 16.5% increase compared to the previous year, from 376 to 438 participants who have registered. The event attracted a diverse audience, including representatives from various regulatory bodies, public listed companies, professional entities, and Kenanga's vendors, such as Bursa Malaysia Berhad, Securities Commission Malaysia, Securities Industry Development Corporation, Kumpulan Wang Simpanan Pekerja, Institute of Corporate Directors Malaysia, Nestle Products, SP Setia, Petronas, Leadwomen, EY Malaysia as well as other notable organisations.

Notably, the event also witnessed participation from organisations based in Singapore, Indonesia, United Arab Emirates, and South Africa, including Singapore Exchange LTD, Indonesia Stock Exchange, Consultero Fzco Dubai, Western Cape Government, and several others.

During the virtual opening ceremony, Tan Sri Dato' Seri Panglima Haji Azam bin Baki, the Chief Commissioner of Malaysian Anti-Corruption Commission ("MACC"), expressed, "It is my hope that Kenanga's Fraud Awareness Week would serve as a platform where stakeholders come together, share insights and collectively identify effective solutions to prevent fraud and corruption. This is also in-line with the MACC's goals of optimising collaborative efforts of all organisations to exchange information, best practices, and experiences aimed at enhancing governance."

"Kenanga's Fraud Awareness Week demonstrates our ongoing commitment to integrity and combating fraud across diverse industries. By fostering vigilance and collaboration, we aim to empower a community dedicated to ethical practices, ensuring a secure environment for all stakeholders," remarked Datuk Chay Wai Leong, Kenanga Investment Bank Berhad.

"In an era where technological advancements and digital transformations continue to reshape industries, the fight against fraud has taken on new dimensions. Through Kenanga's Fraud Awareness Week, we strive to reinforce our vigilance and preparedness, working alongside regulators and stakeholders to strengthen our defenses against emerging cyber threats. By empowering our teams and the wider community, we remain dedicated to safeguarding our operations and stakeholders from the evolving risks of fraudulent activities," added Maheswari Kanniah, Group Chief Regulatory and Compliance Officer of Kenanga Investment Bank Berhad.

"Fraud remains a persistent threat to businesses and communities worldwide, and the need for increased vigilance and education is more critical than ever. We applaud Kenanga's dedication to raising awareness and nurturing a culture of integrity. Through active participation in initiatives like the Fraud Awareness Week, Kenanga is proactively combating fraudulent activities and contributing to the development of a more resilient business landscape," said John Gill, President of the Association of Certified Fraud Examiners.

Complementing this year's FAW is a Talk Session in collaboration with the esteemed Faculty of Law of the University of Malaya ("UM"). This strategic initiative serves as a pivotal component of Kenanga's social outreach programme, aligning with the ESG framework, aimed at enhancing the awareness of fraud prevention and detection within the local community, particularly among the students of UM's Law Faculty. Alongside the customary FAW initiatives, this programme underscores Kenanga's unwavering commitment to fostering governance culture and transparency throughout the organisation and within the community by prioritising ethical conduct and collective vigilance against fraudulent activities.

To view the 2023 opening ceremony and learn more about FAW, please visit: https://www.kenanga.com.my/faw^[2].

Hashtag: #kenaga #fraudawareness #faw

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References

1. ^{^} Media OutReach (www.media-outreach.com)
2. ^{^} https://www.kenanga.com.my/faw (www.kenanga.com.my)