BNM to co-host virtual AML/CFT hackathon 2023

• Participants stand a chance to win up to US$5k, get expert mentoring
• Programme to help crack down on financial crime, evaluation in 3 categories 

Bank Negara Malaysia (BNM), in partnership with the Financial Intelligence Consultative Group (FICG), will be co-hosting the AML/CFT Hackathon 2023 from 1 to 28 June to develop digital solutions to help combat financial crime.

Bank Negara Malaysia Deputy Governor Marzunisham Omar (pic) said, “Global challenges require global solutions. Financial crime is a global issue, and we all have a role to play in maintaining the integrity of the financial system. We are pleased to continue our long-term partnership with FICG through this search for creative solutions to curb financial crimes, particularly scams, from talented individuals across the region.”

The virtual AML/CFT Hackathon 2023, will feature workshops and mentoring sessions run by experts in cybersecurity and anti-money laundering/counter-financing of terrorism (AML/CFT). 

Participants will work in teams to prototype digital solutions to specific real-world problem statements identified by the organisers.

Pitches will be evaluated in three separate categories: public sector (e.g., law enforcement agencies), private sector (e.g., reporting institutions, fintech companies), and open category (e.g., freelance developers, students).
 
Participants stand a chance to win up to US$5,000 (RM22,174) as well as an opportunity to present their winning prototypes to senior financial intelligence officials from across the region.

The AML/CFT Hackathon 2023 builds upon past efforts by BNM and Australian Transaction Reports and Analysis Centre (AUSTRAC) and is now in its third instalment following the International FIU Codeathon in 2017 and the ASEAN- Australia Codeathon in 2018. 

Prototypes developed include, amongst others, the enhancement of AML/CFT compliance and suspicious matter reporting by applying artificial intelligence.

Those interested in participating may register at amlhackathon.com before 28 May 2023.