KEY COMPLIANCE INITIATIVES FOR FY2021 • Focus on the AML remediation works and addressing gaps in Institutional Risk Assessment exercise. • The remediation shall protect the Bank and its customers in combating money laundering/terrorism financing and other financial crimes. • Revised the AML/CFT rules and parameters to reduce false positive and provide effective transactions monitoring controls. • Adoption of technologies, i.e., Robotic Process Automation (RPA) in transaction monitoring process. • Applying statistical method, i.e., Standard Deviation in the transaction monitoring process and obtain accurate and effective result during the transaction monitoring review. • Conducted Risk Assessment at BIMB Investment to identify and address the money laundering/terrorist financing risk at subsidiary level. • Successful issuance of Compliance related Group Policies, i.e.: 1) Group Compliance Policy; 2) Group AML/CFT Policy; 3) Group e-KYC Policy; 4) Group Sanctions Policy; 5) Group Personal Data Protection Policy; 6) Group Anti Bribery and Corruption Policy; 7) Group Compliance Risk Assessment Policy; 8) Group Corruption Risk Assessment Policy; and 9) Group Gift Policy. • P roduced new method of e-learning by segregating generic modules into a cluster of smaller topics. • Bite size e-learnings for AML/CFT and Preserving Banking Secrecy and Customer Information were rolled out in 2021 which consisted of four (4) modules each. • I mproved staff competency through certification (AICB/ABS, ICA, ACAMS, ACFE and other regulatory compliance certification). Over 62 staff undertook 17 professional certificates in 2021. AML REMEDIATION STRENGTHEN AML CONTROLS GROUP POLICIES E-LEARNING & CERTIFICATIONS STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL BANK I SLAM MALAYS IA BERHAD 200
RkJQdWJsaXNoZXIy NDgzMzc=