Amid growing scrutiny over illicit financial flows and corporate governance risks, Khurram Pirzada, Partner – Forensic and Anti-Money Laundering (AML) at KPMG in Malaysia, noted that money laundering today is increasingly sophisticated, often concealed through legitimate-looking businesses, complex ownership structures and trusted intermediaries. He emphasized that organizations must move beyond a checklist-driven compliance approach and adopt a risk-based, intelligence-led framework to identify red flags early and prevent illicit funds from entering the system. Ultimately, empowered compliance functions, stronger governance and proactive risk ownership will be key to safeguarding reputation and long-term business value.
