The Labuan Financial Services Authority (Labuan FSA) launched the inaugural Labuan International Compliance Conference 2025 (LICC 2025), a joint event with the Industry Compliance Officer Network (CONGs) and Universiti Malaysia Sabah (UMS) aimed at strengthening AML/CFT capability and regulatory compliance standards among reporting institutions in the Labuan International Business and Financial Centre (IBFC). The conference followed the conclusion of the Financial Action Task Force (FATF) Mutual Evaluation on Malaysia and Labuan and focused on the practical challenges of compliance amid evolving financial crime risks, technology change and growing cross-border activity. In opening remarks, the Director General of Labuan FSA said the authority has begun adopting supervisory technology (SupTech) to enhance supervisory capability, including more risk-focused market surveillance, and emphasised training and development for industry practitioners. As part of the upskilling agenda, UMS-KAL’s Micro-Credential Programme on “Introduction to AML/CFT” was launched during LICC 2025, covering AML/CFT fundamentals including the legal framework, Know Your Customer procedures and Customer Due Diligence requirements.
Labuan Financial Services Authority 2025-11-27
Labuan Financial Services Authority launches inaugural Labuan International Compliance Conference and AML CFT micro-credential programme
The Labuan Financial Services Authority launched the Labuan International Compliance Conference 2025 to enhance AML/CFT capabilities and regulatory compliance in the Labuan International Business and Financial Centre. The conference addressed compliance challenges amid evolving financial crime risks and technology changes, with the authority adopting supervisory technology for improved market surveillance. Additionally, Universiti Malaysia Sabah introduced a Micro-Credential Programme on AML/CFT fundamentals during the event.