How can the financial industry improve its conduct and ethics?

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The Financial Industry Must Enhance Conduct and Ethics to Sustain Trust

The financial industry needs to significantly improve its conduct and ethics to ensure the sustained trust of the public. This involves a clear commitment to penalising unethical employees and bad actors for misconduct. Ultimately, personal conduct and integrity are the foundational elements that uphold trust within the financial sector.
Strengthening Penalties for Misconduct

Cases of fraud and corruption have underscored the necessity for the financial industry to enhance its operational conduct. A strong message must be sent that unethical employees and those engaging in illicit activities will face penalties for their actions. This rigorous approach to accountability is paramount in reinforcing the integrity of financial institutions.
The Central Role of Personal Conduct and Ethics

In an era where technology and artificial intelligence are increasingly shaping compliance and anti-money laundering efforts, the importance of human elements cannot be overstated. Personal conduct and ethics remain the bedrock upon which trust is built and maintained. It is crucial to recognise that no algorithm can substitute for the judgment, integrity, and accountability that are expected from professionals in the financial industry.
Collaborative Efforts Against Financial Crime

The evolving landscape of financial crime necessitates a robust framework of collaboration, creativity, and improved conduct. Initiatives like the National Scam Response Centre (NSRC) exemplify this collaborative spirit, bringing together government agencies, financial institutions, and the communications industry. The NSRC operates around the clock to receive reports, trace, freeze, and recover scammed funds, demonstrating a tangible effort to combat financial crimes. As of the third quarter of 2025, the NSRC had received 263,683 calls, successfully seizing RM12.91 million and returning RM1.99 million to victims.

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How can the financial industry improve its conduct and ethics?

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