##gilance and awareness of trends of serious crimes in the country and emerging threats impacting the system. it also calls for effective responses in the form of more robust, agile controls to address these identified trends and threat in a timely manner. from the national risk assessment 2020 undertaken by members of the national coordination committee to counter money laundering and to assess and facilitate the understanding of ml / tf risk exposures, it was found that the top five high - risks crimes that pose substantial ml / tf threats to the country are corruption, fraud, smuggling, illicit drug trafficking and organised crimes. corruption remains a systemic issue, and is particularly insidious, since it facilitates and sometimes enables others significant crimes such as fraud, drugs, human trafficking and environmental crimes. the assessment also indicated that the banking sector is exposed to high level of ml / tf risks. with banks as the nexus between all financial and non - financial sectors, the banking platform has become an ideal channel to be abused for criminal activities including corruption. 2 / 4 bis - central bankers'speeches in this regard, it is crucial that banks understand these key risk drivers to accurately assess whether their current systems are sufficiently adequate in the face of such risks and deploy their resources more strategically to focus on addressing specific, high - risk areas. some best practices for control measures include improving the ability to deter illegal fund flows within the system, conducting swift identifications of illegal transactions and prompt submissions of suspicious transaction reports ( str ). banks are also highly encouraged to make good use of technological advancements to develop more holistic monitoring and risks detection systems, allowing for more prompt alerts and sophisticated red flag systems and stronger compliance to anti - money laundering & counter financing of terrorism ( aml / cft ) requirements. it goes without saying that savvy systems alone are not the one - stop solution. this must be complemented by continuously maintaining and upgrading relevant competencies of aml / cft personnel through investments in training. ladies and gentlemen, i would like to take a moment here to commend the industry on the strides it has made in the aml / cft space over time. in particular, strs received from the banking sector has steadily improved in quality over the years. there is no doubt that these strs and the overall cooperation of banks with the relevant authorities have been useful in supporting enforcement activities by law enforcement agencies. this includes supporting macc's investigations through timely responses to orders, provisions of documents and witnesses.

marzunisham omar : launch of association of islamic banking and financial institutions malaysia's integrity year 2023 speech by mr marzunisham omar, deputy governor of the central bank of malaysia ( bank negara malaysia ), at the launch of association of islamic banking and financial institutions malaysia's ( aibim ) integrity year 2023, kuala lumpur, 14 february 2023. * * * assalamu'alaikum and a very good morning to distinguished guests. it is with great pleasure and gratitude to aibim that i am able to be with you today to speak on a topic that is close to my heart. integrity, as this audience is aware, is the cornerstone of any well - functioning financial system. throughout history, we have seen the damaging consequences from bank runs, financial market meltdowns and other financial shocks that occur when the public can no longer count on financial institutions to do the right thing in private. and yet, cases of corruption and financial mismanagement continue to abound. trust is central to banking. if we already know how badly things can go when trust breaks down, why is integrity – or rather, the lack thereof – still an issue in 2023? anybody here who has ever had to make a difficult life decision may understand why. integrity is not a given. it cannot be written or codified into existence. integrity requires continuous personal and institutional reflection of what our values are. above all, it demands of us the strongest form of ethical courage to stay true and consistent to these values, especially when it is much easier to do otherwise. the 2022 corruption perception index published by transparency international report showed that malaysia is ranked 61, compared to 51 in 2019. while malaysia has placed priority on addressing corruption and strengthening governance and integrity in recent times, for example through the national anti - corruption plan, it is imperative for all stakeholders to actively play their role in this very important endeavour. ladies and gentlemen, integrity holds an even more foundational place within islamic finance. upholding high standards of ethical behaviour and personal integrity at all times are not simply actions that guarantee good governance or financial stability. in our shared faith, they are virtuous ends within themselves. many verses of the quran and hadiths emphasise the importance of integrity. one such example is in sahih al - bukhari 7138, where the nabi muhammad s. a. w. said : " surely! every one of you is a guardian and