Labuan, 27 November 2025 – The Labuan International and Business Financial Centre (IBFC) today marked a significant milestone with the launch of the Labuan International Compliance Conference 2025 (LICC 2025), an inaugural event jointly organised by Labuan FSA, Industry Compliance Officer Network (CONGs) and Universiti Malaysia Sabah (UMS). The conference, themed ‘From Rules to Values: Shaping Compliance to Confidence’ aimed to foster knowledge on AML/CFT and strengthen the regulatory compliance standards among reporting institutions across Labuan IBFC.

The conference comes at a pivotal moment following the recent conclusion of the Financial Action Task Force (FATF) Mutual Evaluation on Malaysia and Labuan. The discussions are therefore both timely and essential, to provide valuable insights in further strengthening compliance in the Labuan IBFC.

The emphasis on compliance is particularly significant given the rising complexity of financial crime risks, rapid advancement of technology, and the increasing volume of cross-border transactions. Compliance has therefore evolved beyond a legal obligation to become a cornerstone of responsible governance. Labuan FSA acknowledges that strong compliance not only enhances oversight and market transparency but also enables institutions to respond swiftly and effectively to emerging risks. This ultimately sustains confidence in Labuan IBFC as a safe and credible financial business centre.

At the Opening Remarks of the LICC 2025, Affendi Rashdi, Director General of Labuan FSA said, “As financial industry evolves at an unprecedented pace, driven by digitalisation that is redefining how institutions operate and conduct business, Labuan FSA is also keeping pace with technology. We’ve begun to adopt SupTech-innovations to enhance our supervisory capability to allow more effective and risk-focused market surveillance with greater granularity and efficiency.” He also emphasised the importance of training and development as a strategic investment enabling businesses to operate sustainably, strengthen internal practices, and stay aligned with evolving regulatory standards.

In supporting Labuan FSA’s effort to upskill industry capacity, particularly among compliance officers, the UMS-KAL has developed the Micro-Credential Programme on ‘Introduction to AML/CFT’, which was launched by the Director General of Labuan FSA during LICC 2025. The programme covers the fundamental principles of AML/CFT, including the legal framework, Know Your Customer (KYC) procedures, and Customer Due Diligence (CDD) requirements. It aims at equipping industry practitioners to meet rising regulatory expectations and ensuring institutional compliance and integrity always remain intact.

The LICC 2025 is a collective commitment of regulators, compliance practitioners and academicians reflected a shared conviction: that compliance is not a burden, but a bridge to building confidence, credibility, and a resilient Labuan IBFC.

Labuan Financial Services Authority
27 November 2025