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Malaysia Banks to Get Tough on Compliance Training: New Initiative Launched

In an effort to strengthen its regulatory framework, Malaysia’s banking sector has launched a new compliance training program aimed at equipping bank employees with the necessary skills and knowledge to tackle critical areas such as anti-money laundering, sanctions risk management, customer due diligence, anti-bribery and anti-corruption.

Partnership for Accredited Qualifications

The initiative is backed by International Compliance Training Malaysia (ICTM), The Asian Institute of Chartered Bankers (AICB) and The Malaysian Insurance Institute (MII). These courses offer a range of accredited qualifications tailored to the needs of Malaysians, whether you’re just starting out in compliance or looking to advance your career.

Comprehensive Curriculum

The training program is designed to cater to all levels of proficiency, from entry-level employees to experienced professionals seeking to upskill and reskill. The comprehensive curriculum covers a wide range of topics, including:

• Anti-money laundering
• Sanctions risk management
• Customer due diligence
• Anti-bribery and anti-corruption
• And many more

Enhancing Transparency and Responsibility

With the banking sector playing a critical role in Malaysia’s economy, the new compliance training program is seen as a vital step towards ensuring that banks operate in a transparent and responsible manner. The initiative also aims to enhance the country’s reputation globally by demonstrating its commitment to regulatory compliance and good governance.

By equipping bank employees with the necessary skills and knowledge, this new initiative will help Malaysia’s banking sector stay ahead of the curve and maintain its position as a reputable and trustworthy financial hub in the region.