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Press Release for Immediate Release
Malaysian Association of Certified Fraud Examiners and Securities Industry Development Corporation Join Forces to Boost Fraud Awareness and Education in Malaysia
KUALA LUMPUR, 15 October 2024: The Malaysian Association of Certified Fraud Examiners (“MACFE”), the local chapter of the world’s largest anti-fraud organisation and premier provider of anti-fraud education, the Association of Certified Fraud Examiners (“ACFE”), has signed a Memorandum of Understanding (MoU) with the Securities Industry Development Corporation (“SIDC”) to advance fraud awareness and education within Malaysia’s capital market. This partnership marks a pivotal step in fostering academic collaboration between MACFE and SIDC, with a shared commitment to promoting fraud detection and prevention, enhancing professional excellence, and raising investor education standards across the Malaysian capital market.
The MoU was signed at the Malaysia International Trade & Exhibition Centre on 15 October, formalising a strategic framework for MACFE and SIDC to collaborate in key areas of mutual interest. These include joint efforts in awareness campaigns, capacity-building programmes, and ethics advocacy to further strengthen the skills and knowledge of capital market participants and Certified Fraud Examiners (“CFEs”) in Malaysia.
Lim Huck Hai, President of the MACFE and Tengku Zarina Tengku Chik, CEO of SIDC during the MOU exchange.
From left: Wong Siew Jiuan (Secretary General MACFE), Maheswari Kanniah (ACFE Board of Regents), Zalily Mohd Zaman Khan (Vice President MACFE), Lim Hick Hai (President MACFE), Tengku Zarina Tengku Chik (CEO SIDC), Sarimah Ramthandin (Director/Head, Innovation, Advisory & Industry Engagement, SIDC) and Ganesh Thuraisingam (Head ACFE Asia Pacific), at the signing ceremony at MITEC this afternoon.
“The signing of this MoU is a significant milestone in our shared mission to enhance fraud awareness in Malaysia,” said Mr Lim Huck Hai, President of MACFE. “This collaboration enables us to deliver impactful learning opportunities and promote the highest standards of professional ethics and integrity within the financial sector, ensuring that fraud risks are better managed across the capital markets.”
SIDC Chief Executive Officer Tengku Zarina Tengku Chik echoed this sentiment, stating, “Our partnership with MACFE underscores our commitment to fostering a safer, more transparent market environment. Together, we aim to empower professionals in the capital markets with the knowledge and skills needed to tackle fraud and uphold investor trust. This collaboration will not only elevate fraud awareness but also strengthen ethical conduct and governance in the industry.”
As the learning and development arm of the Securities Commission Malaysia, SIDC is dedicated to raising the standards of capital market participants and supporting the rapid growth and development of the capital market industry through innovative learning and development solutions, capacity building, professional certification, and continuous education.
“I am pleased with this meaningful collaboration between MACFE and SIDC, which aims to raise fraud awareness and foster capacity-building among capital market participants,” said John Gill, President of the Association of Certified Fraud Examiners. “This partnership not only strengthens our shared commitment to promoting ethical standards but also paves the way for professional development in the industry. I congratulate both organisations on this significant milestone and look forward to seeing similar collaborations across other ACFE chapters, as we continue to build on this momentum and grow stronger together.”
Through this partnership, MACFE and SIDC will explore opportunities to develop targeted learning resources, training modules, and outreach programmes tailored to address the growing complexities of fraud in today’s business environment. By pooling their expertise and resources, both organisations aim to equip professionals with the necessary tools to identify, prevent, and combat fraud, ultimately fostering a more secure and transparent market. For more information, visit www.acfe.com.my.
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About Securities Industry Development Corporation (SIDC)
SECURITIES INDUSTRY DEVELOPMENT CORPORATION (SIDC) is the learning and development arm of the Securities Commission Malaysia (SC). It was established in 1994 and incorporated in 2007.
SIDC has been a standard-bearer of quality and innovation for examinations, qualifications, talent development, and capacity building for over two decades. Our mission is to raise the standard of capital market participants to support the rapid growth and development of the capital market industry through learning and development solutions, capacity building, and professional certification, qualifications, and continuous education. It also focuses on thought leadership, consultancy services, and investor education for the capital market.
In moving with the digital age, SIDC develops and organises training programmes for potential and existing capital market professionals as well as conducts public investor education seminars through virtual platforms, in addition to our face-to-face programmes. Further, SIDC develops and administers the Securities Commission Licensing Examination (SCLE) as part of the licensing regime for Malaysian capital market intermediaries under the SC.
For more information, visit www.sidc.com.my
Facebook: Securities Industry Development Corporation – SIDC
Instagram: @officialsidc
LinkedIn: Securities Industry Development Corporation (SIDC)
About Malaysian Chapter of the Association of Certified Fraud Examiners (MACFE)
The Malaysian Association of Certified Fraud Examiners (“MACFE”) is committed to combating fraud in Malaysia through education, training, and advocacy. As the local chapter of the global Association of Certified Fraud Examiners (“ACFE”), MACFE promotes the role of anti-fraud professionals and raises fraud awareness.
The ACFE, headquartered in Austin, Texas, is the world’s largest anti-fraud organisation, with over 90,000 members in 190+ chapters. It offers the Certified Fraud Examiner (“CFE”) certification and provides more than 320,000 Continuing Professional Education credits annually to enhance the skills of fraud specialists and promote ethical business practices worldwide.
For more information, please contact
Lim Huck Hai
Mobile: +60126209868
Email: president@acfe.com.my
