AICB’s IFCTF 2026 Calls For Stronger, Intelligence-led Response To Financial Crime
KUALA LUMPUR, Oct 6 (Bernama) -- The Asian Institute of Chartered Bankers (AICB) and its Compliance Officers’ Networking Group (CONG) are calling for stronger intelligence sharing, responsible use of technology and closer cooperation across the financial ecosystem.
As financial crime increasingly crosses institutional, digital and national borders, the two organisations are emphasising the need for a more coordinated approach to tackling emerging threats at the International Conference on Financial Crime and Counter Terrorism Financing (IFCTF) 2026.
AICB chairman Tan Sri Azman Hashim said that for more than 15 years, IFCTF has brought together regulators, law enforcement agencies, financial institutions, and industry experts from Malaysia and beyond, with one shared purpose: safeguarding the integrity of Malaysia’s financial system.
“Financial crime does not respect institutional, industry or national boundaries. A bank, telecommunications provider, digital platform and enforcement agency may each see a different part of the same crime.
“Connecting those insights turns fragments into actionable intelligence,” he said during his welcome address at the IFCTF 2026 today.
He said turning intelligence into timely action requires effective tools, with the recent AICB-Ecosystem Artificial Intelligence (AI) in Practice Report 2026 highlighting fraud detection and Anti-Money Laundering/Countering the Financing of Terrorism as leading uses of AI in Malaysia’s banks and development financial institutions.
“AI can connect transaction patterns and sharpen investigations, but its value depends on reliable data, rigorous testing and sound professional judgment, with clear accountability for decisions,” he said.
He said the Royal Malaysia Police (PDRM) recorded nearly RM3 billion in online fraud losses in 2025, with close to RM680 million already lost in the first four months of 2026.
Meanwhile, Bank Negara Malaysia (BNM) governor Datuk Seri Abdul Rasheed Ghaffour said that in today’s digital economy, every transaction leaves a trail of data, and the challenge is no longer the availability of information, but the ability to transform it into actionable insights and intelligence.
“At BNM, as the Financial Intelligence Unit of the country, data and insights are at the core of our work.
“From generating intelligence products to facilitating data management, we continuously strengthen our processes and infrastructure that supports data-led intelligence,” he said.
He said since October 2025, the National Fraud Portal has piloted the analysis of payment network patterns to identify potential mule accounts.
To date, he said PayNet has flagged more than 1,600 suspicious accounts, many of which were subsequently assessed as presenting mule-related risks.
“This demonstrates the potential of network-level intelligence, by connecting information across financial institutions, to identify risks that may appear invisible from the perspective of any one individual institution,” he added.
Abdul Rasheed said that to support this shift, BNM has strengthened the foundations for technology risk management and fraud prevention.
“The revised Risk Management in Technology policy document strengthens financial institutions’ resilience against technology-related risks, cyber risks and rapidly evolving digital crimes.
“Meanwhile, the recently issued Financial Institutions’ Response to Fraud policy document further reinforces accountability for fraud risk management while promoting the responsible use of intelligence, analytics and technologies,” he said.
Themed “Intelligence-Led Financial Crime Prevention: The Power of Data, Insights and Collaboration,” IFCTF 2026 brings together regulators, enforcement agencies, financial institutions and technology specialists to examine how shared intelligence can lead to earlier detection and intervention.
It is held from Oct 5-7, 2026, at the Kuala Lumpur Convention Centre.
Now in its 16th edition, IFCTF, organised by AICB and CONG with the support of BNM, the Securities Commission Malaysia and the Labuan Financial Services Authority, continues to provide a platform for industry and public-sector leaders to share practical approaches to preventing financial crime and strengthening public trust.
-- BERNAMA