KUALA LUMPUR, MALAYSIA - - 14 November 2022 - Kenanga Investment Bank Berhad today kicked off its annual sixth Fraud Awareness Week, held in conjunction with the International FAW of the Association of Certified Fraud Examiners, headquartered in Austin, Texas.
Kenanga's FAW is the centerpiece of a month-long fraud awareness campaign to shine the spotlight and raise awareness on the importance of fraud detection and prevention, as well as respond to the United Nations Global Compact's 10th Principle, which emphasizes the need for businesses to work against corruption in all its forms.
Themed 'Reaffirming Ethical and Moral Resilience for Good Governance', FAW aims to reiterate Kenanga's commitment and belief on the importance of ethical and moral values in shaping good governance whilst moulding the corporate culture that thrives within the current evolving and transforming regulatory landscape.
"As the frontline regulator of the Malaysian capital market, Bursa Malaysia welcomes such efforts from industry players as this helps maintain a 'fair and orderly market' preventing occurrences of trading misdemeanours, frauds and scams – which helps to protect the interests of investors," says Tan Sri Abdul Wahid Omar, Chairman of Bursa Malaysia Berhad.
Datuk Chay Wai Leong, Group Managing Director of Kenanga Investment Bank Bhd says the pace of the evolution of fraud risks is not going to slow down any time soon and our strongest defense in the fight against fraud is awareness cultivated through the collective efforts of all.
"Let us reiterate our commitment to the anti-fraud agenda by reaffirming the importance of ethical and moral values in shaping good governance," he says.
Similar to the previous two years, all programs for FAW including the Opening Ceremony, FAW Games and Talk Series were undertaken virtually or online, and this year's FAW Games featured a record number of 376 participants, a 28.7% increase compared to the previous year.
Participants included those from regulatory bodies, public listed companies, professional bodies and Kenanga's vendors such as Bursa Malaysia Berhad, Securities Commission Malaysia, Securities Industry Development Corporation, Nestle, Petronas, AirAsia, Kumpulan Wang Simpanan Pekerja, Sime Darby, Lembaga Tabung Haji and Deloitte Consulting Malaysia.
"In line with our theme this year, we aim to continue spreading the message of anti-fraud and to highlight the grave impact that comes from failure to protect oneself from fraud and scams.
"From within, we will continue to strengthen Kenanga's core by equipping our employees with the necessary knowledge and understanding of the importance of anti-fraud," adds Maheswari Kanniah, Group Chief Regulatory and Compliance Officer of Kenanga Investment Bank Bhd.
"The ACFE started fraud week 22 years ago and its beginnings were humbled. In two decades time, it has evolved into an international campaign with hundreds, and sometimes more than a thousand organisations – that is thanks in large part to organisations like Kenanga, that embrace the idea of getting the word out about fraud in a big way," says Bruce Dorris, President and Chief Executive Officer of the ACFE.
In addition to this flagship campaign which serves to unite employees and industry stakeholders to propagate a culture of strong corporate governance, Kenanga also conducts annual e-tests on various aspects of the subject matter to assess and reinforce our employees' grasp and knowledge of good governance and business practices.
Since 2020, Kenanga employees have attended over 16,000 training hours related to ethics, compliance and governance topics including anti-fraud, anti-bribery and corruption, and anti-money laundering, counter financing of terrorism and targeted financial sanctions. Media OutReach