Financial News
Kenanga Investment Bank Champions Fraud Prevention and Detection in its 7th Annual Fraud Awareness Campaign
Under the theme of "Embracing Disruption, Pioneering Change, Unwavering Integrity," this year's FAW initiative functions as a unifying platform, drawing in a diverse group of internal and external stakeholders to collaboratively bolster the fight against fraud, bribery, and corruption across all sectors.
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 10th 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.
Hashtag: #kenaga #fraudawareness #faw
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Kenanga Investment Bank Berhad (197301002193 (15678-H))
Established for 50 years, Kenanga Investment Bank Berhad ("The Group") is a financial group in Malaysia with extensive experience in equity broking, investment banking, treasury, Islamic banking, listed derivatives, investment management, wealth management, structured lending and trade financing.
An innovative and established home-grown brand, the Group's digital ambition includes building a robust digital ecosystem that meets the needs of its clients and businesses. Some of its game-changing products include Malaysia's fully online digital stockbroking platform Rakuten Trade and a fully A.I. robo-advisor, Kenanga Digital Investing. The Group also launched Malaysia's first securities broking e-wallet, Kenanga Money, paved the way in AI-led Quan and algorithmic trading, kick-started a revolutionary supply chain financing solution for SMEs and made inroads into the digital assets space through its investment in Tokenize Technology (M) Sdn.Bhd.
The Group has garnered a host of awards and accolades reflecting its strong market position. It was awarded Highest Returns to Shareholder Over Three Years, Highest Growth in Profit After Tax Over Three Years and Highest Return on Equity Over Three Years by The Edge Malaysia Centurion Club in the Financial Services Category, Best Overall Equities Participating Organisation (Champion), Best Retail Equities Participating Organisation (Champion), and Best Online Retail Participating Organisation (Champion), as well as Best Institutional Derivatives Trading Participant (Champion) and Best Overall Derivatives Trading Participant (1st Runner Up) in the Bursa Excellence Awards 2022. The Group was also accorded the title of Best House, South and Southeast Asia Award in the SRP Asia Pacific Awards 2022.
The Group continues to be a regular and repeat recipient of distinguished industry accolades, such as the Lipper, Fundsupermart and Morningstar awards. Rakuten Trade, Malaysia's first fully digital securities broker in 2017 via a joint venture with Japanese fintech giant Rakuten Securities Inc was also named Malaysia's Digital Experience of the Year – Brokerage at the Asian Experience Awards 2022. For its continued efforts towards community outreach and employee volunteerism, the Group was awarded the coveted Bank of the Year Award for Environmental, Social & Governance Excellence, as well as Long-Standing Excellence in Sustainability at Sustainability & CSR Malaysia Awards 2022. The Group is also a Participant of the United Nations Global Compact and adheres to its principle-based approach to responsible business.
Today, Kenanga Investment Bank Berhad is an award-winning leading independent investment bank in the country with a continuous commitment towards driving collaboration, innovation, digitalisation and sustainability in the marketplace.
This Press Release was issued by Kenanga Group's Marketing, Communications & Sustainability Department.
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