It is our expectation that the board of directors and senior management of institutions to play their roles in ensuring that the compliance programme is fully implemented and that any money laundering and terrorism financing activities are promptly detected and reported. Hence, I urge all reporting institutions to improve both the quantity and quality of STR submitted. In the same vein, the FIU will continue to improve its feedback mechanism to reporting institutions. The fourth area is to give greater emphasis on compliance. This is important so as to improve the compliance level among the reporting institutions in order to preserve the integrity and stability of the financial system. More focus will be given to enhance and raise the compliance level among DNFBPs in view of the emerging risks. To this end, greater collaboration between the FIU and the various self-regulatory organisations would be pursued actively during the year. BIS Review 46/2009  3  The fifth and last area is to ensure that the enforcement of the AML/CFT regime should be achieved without undue increase in the regulatory cost. It is important that the controls in place are commensurate with the associated money laundering and terrorism financing risks and the risk mitigation measures are adequate. This underscores the progressive introduction of more risk-based approach in the national AML/CFT regime. I understand that this is among key topics to be discussed in this conference, and I am sure it will generate interesting discussions between the experts and the participants.
Nor Shamsiah perseverance  Mohd  Yunus:  Mastery,  adaptability  and  Remarks by Ms Nor Shamsiah Mohd Yunus, Governor of the Central Bank of Malaysia (Bank Negara Malaysia), at the 2018 Kijang Emas Scholarship Award “Mastery, adaptability and perseverance”, Kuala Lumpur, 21 September 2018. * * * When I entered university in Australia many years ago, the Times named the Computer the ‘Man (or in this case, Machine) of the Year’. It was a significant signal in public consciousness on the importance of the computer. The byline was, “The Computer moves in”. The world then, as is now, was a world in a state of constant change. Today, we see that technology is at the forefront in transforming almost every aspect of our lives. It is doing so at an unprecedented and relentless pace. This is exciting, but also for many, it brings about the feeling of trepidation, discomfort and uncertainty. Therefore, as both of you begin your next chapter of your life, I encourage you to make the most of your years in university, to not only excel in your chosen discipline, but also to absorb lessons that will serve you well in life. Let me just mention three today: mastery, adaptability and perseverance. First, on mastery. Even in a world where knowledge decays quickly, mastering a field of knowledge is the foundation in building one’s expertise and credibility. Mastery is not mere information accumulation. It is the ability to understand the inter-linkages between complex and evolving situations.