KENANGA ANNUAL REPORT 2019

K E N A N G A I N V E S T M E N T B A N K B E R H A D A n n u a l R e p o r t 2 0 1 9 68 • Mitigate Risk of Fraud and Theft The Group continues to remain ever vigilant and ensures that its business and operations and any new ventures adequately address issues of fraud and theft, and risks related to the same are minimised. This is achieved by having in place the necessary policies and procedures and also undertaking sufficient training and increasing awareness so employees of the Group will be able to detect and prevent fraud and theft from occurring. • Enhance Cyber Security and Data Privacy As the Group continues to leverage on technology and come up with new ways to enhance clients’ experience, the need for finding the right balance between the most productive use of data and the protection of privacy remains a key challenge. This is further augmented by the ever growing risks of cyber threats and data breaches particularly in the financial industry. To ensure that we are always a step-ahead, we do not consider data protection and cyber security in isolation. GRCS, together with other stakeholders in the Group, take an integrated approach to managing digital risks and ensuring that there are adequate controls and safeguards at all times. • Intensify Employee Engagement We recognise that employees who are engaged are involved, enthusiastic and committed to their work. Continuous engagement also helps reinforce the notion of collective responsibility and accountability particularly in areas of compliance and meeting regulator’s requirements. We will increase efforts relating to employee engagement including holding briefings on relevant policies, undertaking surveys to assess employees’ understanding, and having periodic face-to-face engagement sessions. FORWARD LOOKING STATEMENT Corporations around the globe continue to face ever-louder calls to adopt and cultivate a culture of business ethics and integrity. Whilst it is true that no single department can own sole responsibility to ensuring and realising the vision of having ethical business practices, the Group has taken the initial steps to put in place the needful by establishing GBEI. GBEI will act to chart the Group’s ethics and integrity strategy and direction holistically with support from the senior leadership, and then the whole organisation will be able to work together towards common goals and values. Moving forward, a Group-wide cross functional cooperation and integration of best practices that are aligned with the ethics and integrity values will yield the most fruitful and effective results. Ultimately, good business ethics will translate into enhanced business performance and optimised operations for the Group, and ensure long-term sustainability. ETHICS AND COMPLIANCE STATEMENT