For this, the use of internet banking, e-money, remittance platform and other use of internet technologies for money laundering activities are on the rise. New  2  BIS Review 46/2009  technologies are also being used to perpetrate crimes such as dealing in illegal drugs over the internet and e-crimes, including phishing and internet auction frauds; 3. There are also instances on the use of dummies, or an international network of shell companies as well as other intermediaries to handle the transactions; and  4. The use of electronic fund transfers as one of the preferred methods for the layering of criminal proceeds once they enter the legitimate financial system. There are cases where these proceeds are smuggled out of one country, deposited in another country or other countries, and then wired back to the country of origin. III. Strategic focus to strengthen the national AML/CFT regime  As the challenges to address the emerging trends intensify, it becomes imperative that the overarching objective upon which an AML/CFT regime has been built remains intact and achievable. The key is to sustain the robustness of the AML/CFT regime to effectively deter and detect money laundering and terrorism financing offences. Thus the third and the last theme of my speech is on Malaysia's strategic focus in strengthening the national AML/CFT regime. Against this backdrop, five key areas has been identified. First is to strengthen collaboration and cooperation among key stakeholders. Foremost is to enhance the public-private sector partnership as synchronised actions deliver better result.
Today's conference provides a platform to widen the knowledge and understanding on the critical issues confronting the effective implementation of the AML/CFT regime. Please do take advantage of and benefit from this opportunity. On this note, I wish you a productive and successful conference. Thank you. 4  BIS Review 46/2009