K & N Kenanga Holdings Berhad is the First Southeast Asian Organisation to Partner with Global Anti-Fraud Leader ACFE



AUSTIN, Texas, U.S.A. (April 16, 2015) — K & N Kenanga Holdings Berhad (“Kenanga Group”), the holding company of the largest independent investment bank in Malaysia*, Kenanga Investment Bank Berhad (“KIBB”), is the first Southeast Asian organisation to partner with the Association of Certified Fraud Examiners (“ACFE”), the world’s largest anti-fraud organisation.

In joining forces with the ACFE, the Kenanga Group, as its newest member, is reinforcing its commitment to increase anti-fraud knowledge and certification among its employees, driving higher levels of corporate governance and more robust internal controls.

“We are honoured to be the first Southeast Asian company to be a part of the world’s largest anti-fraud organisation. Kenanga takes its role in the fight against fraud seriously as this is one of the pivotal keys to firmly maintain the overall confidence of investors in the financial system,” said Datuk Chay Wai Leong, Group Managing Director of Kenanga Group.

Maheswari Kanniah, the Group Chief Regulatory Officer of Kenanga Group, who is also a Certified Fraud Examiner (“CFE”), added, “While we look forward to bring our perspective and experience in the Malaysian financial services space, we are also pleased to furnish our employees with an additional platform to access tools, training programmes, best practices and a network of like-minded professionals on fraud-related matters via the ACFE’s rich resource centre. We believe awareness with the right culture is the mould for every organisation to deter improper conduct and mitigate the risks of fraud.”

ACFE President and CEO James D. Ratley, CFE, said Kenanga Group’s decision to join the Corporate Alliance “denotes a strong commitment to the fight against fraud.”

“As the first Southeast Asian company to join the program, Kenanga Group is leading by example and setting a high standard for training its staff to identify the red flags of fraud,” Ratley said. “Participation in the Corporate Alliance provides the training and resources needed to give a leader like Kenanga Group the advantage of staying ahead of financial crimes.”

Introduced in 2011, the Corporate Alliance program has quickly grown to include partners from around the globe, mostly Fortune 500 organisations. The program supports the implementation of anti-fraud best practices in organisations by providing access to exclusive training opportunities and resources.

Organisations worldwide lose an estimated 5 percent of their revenues each year to fraud, according to the ACFE’s 2014 Report to the Nations on Occupational Fraud and Abuse, and it takes them an average of 18 months to discover a fraud after it occurs. By joining the ACFE Corporate Alliance, Kenanga Group is signaling a proactive approach to the prevention, detection and deterrence of fraud.

About the Association of Certified Fraud Examiners

Founded in 1988, the ACFE is the world's largest anti-fraud organisation and premier provider of anti-fraud training and education. Together with more than 75,000 members, the ACFE is reducing business fraud worldwide and inspiring public confidence in the integrity and objectivity within the profession. For more information, visit ACFE.com

About K & N Kenanga Holdings Berhad (302859-X)

Established for more than 40 years, Kenanga is a financial group in Malaysia with extensive experience in equity broking, investment banking, listed derivatives, treasury, corporate advisory, Islamic banking, wealth management and investment management.

K & N Kenanga Holdings Berhad was listed on the Main Board of Bursa Malaysia Securities Berhad in 1996.

Today KIBB is the largest independent investment bank* by equity trading volume and value, as well as is one of the top three brokerage houses with the largest network of remisiers in Malaysia. In addition, Kenanga Deutsche Futures Sdn Bhd is the Top Overall Futures Broker and Top Equity Futures Broker for 12 consecutive years, awarded by Bursa Malaysia Berhad, the Malaysian Stock Exchange.

The investment management division, Kenanga Investors Berhad has been recognised by the Lipper Fund Awards (Malaysia) for 3 consecutive years as well as the Fundsupermart.com's Recommended Unit Trusts Awards for its Consistent Top Performing Funds.

*Year to date, based on Bursa Malaysia's Participating Organisations (POs) Trading Summary.

Contact the ACFE
For more information, email PR@ACFE.com.