No One Has Ever Become Poor By Giving!

Events - Tea & Talk – 5 September 2013


Kuala Lumpur, Sept 5 – Vice President of Association of Certified Fraud Examiners, Yunos Yusop has proposed to both the Government and the corporate sector, including the small-and-medium enterprises, to introduce a compulsory five-day continuous compulsory leave for all managers, officers and above.


During the leave period, the staff should not be allowed to come back to office. The practice, Yunos said, has been introduced in the financial sector and found to be an effective means of curbing frauds involving the bank staff.


In a recent move, some of the Government Linked Companies (GLCs) have introduced a three-day compulsory leave for non-executive staff while employees with the rank of officers and above would have to go on a five-day continuous compulsory leave.


Yunos was speaking at a tea talk at the Royal Selangor Club in Bukit Kiara hosted by Transparency International (Malaysia) on the topic, “Malaysia Experience of Dealing with Anti-Money Laundering and Counter-Terrorism Financing.”


“It has proven to work,” he said, citing the example of a local bank branch manager who was under the Anti-Money Laundering Act 2001 for issuing fake Fixed Deposit slips to unsuspecting customers.


“The particular bank manager decided to go on a Haj trip. It was during his absence, when a bank customer wanted to withdraw the money from the bank, and discovered that the Fixed Deposit slip was forged.”


On a separate matter, Yunos said that bank customers should try to cooperate with the banks, if they are being queried on the source of a large amount of money being deposited or transferred to their accounts.


“Banks have an obligation to report any suspicious transactions to Bank Negara,” he said. “There are no issues at all, if the money is from a genuine source; therefore, customers would be better off to answer the questions.”


From L to R: Dato’ Akhbar Satar, Mr Yunos Yusop, Dr Loi Kheng Min


TI Malaysia organised a talk on the Malaysia Experience of Dealing with Anti-Money Laundering and Counter-Terrorism Financing on 5 September 2013 at the Royal Selangor Club (Kiara).


The talk was presented by Yunos Yusop, the Vice President of the Malaysian Chapter of Association of Certified Fraud Examiners.