Fraud and financial crime are becoming more rampant with ongoing economic pressures, unprecedented inflation and geopolitical tension. It is estimated that more than USD800 billion is laundered every year, causing a significant impact on the global economy and creating considerable challenges for financial institutions, corporates, government and the society. Kroll’s 2023 Fraud and Financial Crime Report highlighted that 69% of global executives and risk professionals surveyed expect financial crime risks to increase over the next 12 months. However, only 25% to 30% of respondents from the EU, the UK, Singapore and the U.S. believe their compliance programmes to be very effective.
The extensive and widespread use of technology in business today while enhancing efficiencies has also provided openings for financial crime and associated risks. A better understanding of the state of the fight against financial crime has become more important as new technology unfolds. To close the gap, 67% of the respondents plan to invest in technology in the next year.
Get ahead in the evolving fight against fraud and financial crime. Gain insights into the current financial crime landscape and learn how technology might stop the threat of economic, crypto and ESG crimes. How these investments should be made and what else can be done to combat financial crime? What strategies can boards take? What are the red flags boards should watch out for? What else can they do to raise the governance standards in the company?
Send us your burning questions or issues you would like to bring up during the dialogue session to advocacy@icdm.com.my. This dialogue session will be held under the Chatham House Rule.
PROGRAMME | Friday, 8 SEPT 2023
| 09:30am | Registration & networking over light refreshments |
| 10:00am | Context Setting: Role of Board in Tackling Financial Crimes Michele Kythe Lim, President & CEO, ICDM |
| 10:05am | Presentation: Key Findings of Fraud and Financial Crime Report Saket Bhartia, Managing Director, Forensic Investigations and Intelligence, KROLL |
| 10:40am | Sharing Session & Open Dialogue with Attendees: Raising Defences Against Financial Crimes – Next Steps for Board Panelists:
Moderator: Reshmi Khurana, Managing Director, Forensic Investigations and Intelligence, Head of Southeast Asia, Kroll |
| 12:00pm | Session Ends |
Speaker
Saket Bhartia
Managing Director
Forensic Investigations and Intelligence, South East Asia, Kroll
Saket Bhartia is a managing director in the Forensic Investigations and Intelligence practice, based in Singapore. Saket leverages more than 22 years of experience and has assisted boards and audit committee of ASEAN companies in investigating financial statement fraud, siphoning of funds, embezzlement, asset misappropriation, bribery and corruption issues, regulatory non-compliance, code of conduct violations, supply chain leakages and ethics violations.
He also has extensive experience in compliance and governance including performing fraud risk assessments, data analytics etc. Particularly, in Malaysia he has performed several proactive assessments and helped companies improve their overall “ethics and governance” framework.
Reshmi Khurana
Managing Director
Forensic Investigations and Intelligence, Head of Southeast Asia, Kroll
Reshmi Khurana is managing director and head of Southeast Asia in Kroll’s Forensic Investigations and Intelligence practice, based in the Singapore office. Reshmi has more than 20 years of experience in the United States as well as in South and Southeast Asia conducting complex corruption investigations, litigation support projects, and due diligence on the management, operations, and business models of organizations. Her experience includes helping clients identify and bridge gaps in internal controls and corporate governance through people, processes, and technology.
Choo Yoo Kwan @ Choo Yee Kwan
Chairman of Risk Committee of HSBC Bank Malaysia Berhad
Independent Non-Executive Director of YTL Corporation Berhad
Mr Choo Yee Kwan currently serves as the Senior Independent Non-Executive Director of HSBC Bank Malaysia where he chairs the Risk Committee. Mr Choo is also serving as an Independent Director of YTL Corporation Berhad. He had served as an Independent Director of Danajamin Nasional Berhad from 2018 till June 2023.
Prior to Mr Choo’s retirement, he had worked for Malaysian and foreign banks, including Maybank, OCBC Bank and National Westminster Bank (UK). He was based at NatWest’s Head Office in London from 1987 to 1990. He was appointed Chief Risk Officer for Maybank Group and OCBC Bank Malaysia.
Mr Choo holds honours degrees in economics and law from University of Malaya and University of London respectively, and is a Barrister-at-Law (Lincoln’s Inn) following his call to the Bar of England and Wales.
He is a member of the Education Committee of the Asian Institute of Chartered Bankers (AICB) since 2000. In March 2023, Mr Choo was conferred with a Fellow Chartered Banker (FCB) award from AICB and the Chartered Banker Institute of UK.
Mr Choo is currently a member of the Board of Advisors of the University Malaya Faculty of Business and Economics. He is a fellow of ICDM.
Lim Eng Seong
Chief Executive Officer
Prudential Assurance Malaysia Berhad
Eng Seong was appointed the Chief Executive Officer (CEO) of Prudential Assurance Malaysia Berhad (PAMB) on 1 July 2021. He leads Prudential’s life insurance business in Malaysia which currently serves close to 2 million customers. He is responsible for the growing Prudential’s footprint in Malaysia and further developing its journey towards solid growth and positive transformation to help Malaysians get the most out of life.
Eng Seong has more than 25 years of combined experience in the banking, insurance and FMCG industries, including international senior leadership roles in the Philippines, Thailand and Hong Kong.
Prior to joining PAMB, he was the former Deputy CEO of HSBC Malaysia and Executive Director of HSBC Amanah Takaful. Eng Seong holds the distinction of being the first Malaysian to be appointed as the Deputy CEO in the 137-year history of the bank.
Dr Carrine Teoh
ASEAN Top 30 Women in Cybersecurity 2021,
Vice President of ASEAN CIO Association,
VigiTrust Global Advisory Board member
Chief Strategy Officer of Bond Holdings Sdn Bhd
Dr Carrine Teoh is Chief Strategy Officer at Bond Holdings. With over 20 years of experience in engineering technology and cybersecurity, her areas of expertise are CNI protection, standards and privacy. She has vast experience in cybersecurity frameworks, ISO 27001, Common Criteria, PDPA, Cyber Ethics and Critical Infrastructure Protection. Her earlier career was in IC Design with Masushita Singapore and Cadence Design Systems. She is passionate about synergy of business and technology, emphasizing on digital economy and cybersecurity. She advocates women in technology especially in cybersecurity and engineering. She champions empowerment and active involvement of women in technology and cybersecurity. She is passionate about developing the next generation of technology talents, by mentoring and sharing her knowledge and skills.
Carrine is Vice President of ASEAN CIO Association. In addition, she is Global Chapter Security & Cyber Security Committee in Della Leaders Club, global forum of leaders that brings people to positively impact the world. She is also VigiTrust Global Advisory Board member and Institute of Corporate Directors Malaysia (ICDM) member. She is part of Organisation for Women in Science for the Developing World (OWSD), Association of Information System (AIS) and Malaysian Institute of Management. She was part of the team which spearheaded Malaysian Women in Security (MYWiS). She is Vice President for Nanyang Technological University Singapore Alumni (Malaysia). Dr Carrine was awarded Top 30 Women in Cybersecurity in ASEAN 2021. She is appointed Awards Selection Committee for Cybersecurity Woman of the Year 2021. In 2021, she was named as Top 10 Linkedin ASEAN Cybersecurity Influencers 2021. Dr Carrine was awarded Top 10 Women in Security in Malaysia 2020.
Jillian Chia Yan Ping
Partner
Skrine
Jillian leads the Privacy and Data Protection practice and is also part of the firm’s Technology, Media and Telecommunications practice.
She focuses on advising local and multinational companies in respect of data protection and privacy issues. Jillian’s experience in this area includes reviewing and drafting of relevant documentation such as privacy policies, data processor agreements and data transfer agreements as well as undertaking comprehensive data protection exercises to bring her client’s internal practices, in line with the requirements of the privacy and data protection laws.
She also advises a wide range of global telecommunications and technology companies in respect of their investments and service offerings into Malaysia. Her other areas of practice include intellectual property, online gaming and gambling. She also handles registration of industrial designs and general advisory work relating to intellectual property rights.
