KUALA LUMPUR, April 20 – Bank Negara Malaysia (BNM), in partnership with the Financial Intelligence
Consultative Group (FICG), will be co-hosting the AML/CFT Hackathon 2023 from June 1 to 28 to develop digital solutions to help combat financial crime.
In a statement issued today, the central bank quoted Deputy Governor Marzunisham Omar saying that gllobal challenges would require global solutions.
“Financial crime is a global issue, and we all have a role to play in maintaining the integrity of the financial system. We are pleased to continue our long-term partnership with FICG through this search for
creative solutions to curb financial crimes, particularly scams, from talented individuals across the region.”
The AML/CFT Hackathon 2023, which will be held virtually, will feature workshops and mentoring sessions run by experts in cybersecurity and anti-money laundering/counter-financing of terrorism (AML/CFT). Participants will work in teams to prototype innovative digital solutions to specific problem statements identified by the organisers, which reflect real-world pain points in combating serious financial crimes today.
Pitches will be evaluated in three separate tracks to reflect different categories of participants: public sector (e.g.,law enforcement agencies), private sector (e.g., reporting institutions, fintech companies) and open category (e.g., freelance developers, students).
Participants stand a chance to win up to US$5,000 as well as an opportunity to present their winning prototypes to senior financial intelligence officials from across the region.
The AML/CFT Hackathon 2023 builds upon past efforts by BNM and Australian Transaction Reports and Analysis Centre (AUSTRAC), and is now in its third instalment following the International FIU Codeathon in 2017 and the ASEAN-Australia Codeathon in 2018. Prototypes developed include, amongst others, enhancement of AML/CFT compliance and suspicious matter reporting by applying artificial intelligence.
Those interested in participating may register at amlhackathon.com before May 28. Further updates will be available at the AML Hackathon 2023 Facebook page at facebook.com/amlhackathon.
–WE