ABAC Center of Excellence

For more info about Anti-Bribery & Anti-Corruption (ABAC) Summit 2022, please visit our website https://campaign.crigroup.com/abac-summit

Money laundering activities are when criminals disguise the proceeds of their crimes to make them appear legitimate or legally earned. The act of money laundering is often linked to most forms of organised crime and terrorist activity. To curb the flow of laundered funds across the globe, international governments and industry bodies have sought to devise and implement adequate control mechanisms, including laws and regulations, supervisory regimes and industry guidance.

Anti-money laundering legislation and regulations are strict and increasingly enforced and remaining in compliance through proper prevention controls are necessary. Countless businesses, large and small – from corporations to third-party contractors – have learned this lesson the hard way.

In this webinar recording, you will:

1. Explore the Money Laundering process
2. Get an answer to “How might Anti-Money Laundering and Countering Terrorist Financing (CTF) be prevented?
3. Get an answer to “How to define how a Firm or Bank and its staff should protect themselves against Money Laundering and Terrorist Financing risks?”

What approach does your business need to consider? According to a survey for the Association of Certified Fraud Examiners (ACFE) UK Chapter with the Fraud Advisory Panel, as carried out by the UK consultancy Perpetuity Research, there appears to be a clear-cut, ardent desire from organisations for the mandatory reporting of fraud in England and Wales. Read more: https://abacgroup.com/measures-to-prevent-fraud/

Malaysia’s Approach to Fighting Corruption - Summary from the World Bank Report: Enhancing Government Effectiveness and Transparency: The Fight Against Corruption.

Malaysia’s case study highlights both the opportunities and challenges of building and sustaining an effective anti-corruption drive over time. Despite having a rich history of public administration since independence and drawing on international best practices, Malaysia continued to fair badly in global perception surveys on corruption. Indeed, many of the institutions that were set up to detect and sanction corruption became gradually compromised with the increasing concentration of political power. Only when the magnitude and scale of corruption in the 1MDB sovereign wealth fund became widely known to civil society and the global media, did citizens become so outraged that they voted out the political party that had been in power for over 60 years. The new government—a loosely formed coalition of opposition parties led by a former Prime Minster— stressed the “rule of law” and took upon itself to revitalize the institutions that were put in place to fight corruption and to re-establish limits on the power of the Prime Minister.

Yet, without the parliamentary majority needed to make changes in the Constitution, the scale of changes was necessarily limited. The actions taken by the Pakatan Harapan (PH) government during its two years in office boosted Malaysia’s ratings in global surveys of corruption perceptions. With the collapse of the PH government in March 2020, there is uncertainty whether the anti-corruption reform momentum will be sustained.

Download our brochure on ISO 37001 ABMS Certification and Training or learn more about the training or request a free quote for ISO 37001 from ABAC Center of Excellence. We are the certification body accredited by UKAS and EIAC.

Are you doing everything you can to protect your organisation from the harmful effects of bribery and corruption? Listen to this webinar, where we dive into case studies and identify solutions for managing and monitoring corporate compliance, antibribery and anticorruption in a modern enterprise. Find out more on ISO 37001 Certification and Training from ABAC Center of Excellence

ABAC® is an independent certification body powered by CRI Group. ABAC® Center of Excellence offers a complete suite of services and solutions designed to educate, equip & support the world’s leading business organisations with the latest best-in-practice risk & performance assessments, systems improvement & standards certification.