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Asian Institute of Chartered Bankers (AICB) Hosts International Conference on Financial Crime and Terrorism Financing (IFCTF) to Equip Malaysian Bankers with Specialised Skills in Combatting Emerging Financial Crime Threats

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KUALA LUMPUR, Malaysia, Aug. 19, 2024 /PRNewswire/ — The rapid pace of digital adoption in financial crime poses a significant challenge for financial institutions to counter financial crime. Financial institutions must be sensitive and proactive in monitoring the various typologies of fraud, scams and cyber threats. Malaysia reported a staggering RM3.2 billion in losses through online scams between 2021 and April 2024 — which affected over 95,800 victims — compared to RM804 million recorded in 2022[1]. Additionally, the first half of 2024 recorded 14,490 online fraud cases, with losses exceeding RM581 million[2]. Incidentally, fraud scams and bank fraud schemes accounted for USD485.6 billion in projected losses globally in 2023, underscoring the prevalence of this crime worldwide[3].

These challenges in combatting financial crime also offer opportunities for improved and robust detection and prevention measures that leverage the power of data, analytics, machine learning and artificial intelligence to continuously enhance supervision, regulation and compliance controls; strengthen greater cross-border collaboration and knowledge sharing with key AML / CFT agencies and regulatory bodies globally; enhance AML / CFT capacity-building initiatives, and elevate the awareness of private and public sectors in upholding a culture of integrity, transparency and accountability.

Recognising the urgency of these requirements, the Asian Institute of Chartered Bankers (AICB) and its Compliance Officers’ Networking Group (CONG) proudly organised a special two-day International Conference on Financial Crime and Terrorism Financing (IFCTF) Masterclass 2024 on 19–20 August 2024 at Shangri-La Kuala Lumpur, to provide an immersive learning experience on key areas of the financial sector. Themed “Combatting Financial Crime and AML / CTF / CPF: A Technical Deep Dive”, the Masterclass series aimed to foster a collaborative environment that promotes deeper understanding and stimulates innovative thinking through a series of masterclass sessions led by distinguished global and regional subject matter experts.

Bank Negara Malaysia Deputy Governor Dato’ Marzunisham Omar, in his opening address, said: “In fighting financial crimes, quick action between institutions could make all the difference. This is why we have established platforms such as the National Scam Response Centre (NSRC) and Financial Sector Cyber Threat Intelligence Platform (FinTIP). These platforms bring together not just financial players or law enforcement agencies, but also key stakeholders such as telecommunication companies. The goal is to foster relationships and engagements that allow us to keep pace with developments and act speedily in a time-critical environment.”

In his welcome remarks, AICB Chairman Tan Sri Azman Hashim said: “Given their indispensable role in safeguarding the nation’s financial system, it is crucial to cultivate the banking workforce’s ability to anticipate, deter, and effectively mitigate increasingly sophisticated financial crimes. In empowering our members to address this formidable challenge, AICB continues to advocate for lifelong learning, upskilling and reskilling and this year, we have launched several new courses designed to strengthen our members’ capabilities in key areas of banking in this digital era. We also recently launched the first Future Skills Framework for the Malaysian financial sector, which is designed to promote skills mastery, support continuous learning, enhance talent mobility, and facilitate a more future-ready workforce, effectively raising the bar on professional excellence and advancing the growth of the Malaysian financial sector.”

Compliance Officers’ Networking Group Chairman Faradina Ghouse said: “Fighting financial crime requires a strong, united front. The financial industry, regulators, enforcement agencies, and relevant global organisations must continue to collaborate in this effort as only through collective action and shared expertise can we effectively combat these threats and protect the integrity of our financial systems.”

The IFCTF Masterclass 2024 featured an intensive exploration of the financial crime landscape through in-depth, hands-on sessions that delved into critical areas, including the Financial Action Task Force (FATF) recommendations, proliferation financing, terrorism financing, national and sectoral risk assessments, beneficial ownership, anti-bribery and corruption, transnational organised crime, fraud, regulatory compliance, and inter-agency cooperation.

The technical discourse between global subject matter experts and seasoned industry practitioners underscored the escalating sophistication of financial crimes and its severe detrimental effect on the nation’s economic growth and financial stability, further emphasising the importance of developing specialised expertise in financial crime prevention and compliance. The knowledge and skills acquired through the IFCTF Masterclass 2024 provide a firm foundation for financial professionals to build customer trust, contribute to industry best practices, and ultimately safeguard the integrity of Malaysia’s financial system.

As one of the region’s most influential thought leadership platforms centred on combatting financial crime and terrorism financing for over 13 years, IFCTF continues to play a vital role in elevating industry standards and fostering collaboration between banking professionals globally, empowering them with new knowledge on effective strategies and best practices in the fight against financial crime.

The IFCTF Masterclass 2024 drew over 700 delegates from local and international financial institutions, comprising senior compliance officers, risk management professionals, regulators, and government and law enforcement officials, who participated in the dynamic exchange of keen insights, innovative strategies and practical solutions to address the increasingly complex issues of financial crime and AML / CFT / CPF and fortify banks’ defences against growing threats.

Find out more about AICB’s upcoming events at www.aicb.org.my/events/upcoming.

About Asian Institute of Chartered Bankers

The Asian Institute of Chartered Bankers (AICB) is the sole professional body for Malaysia’s banking industry governed by a council of representatives from Bank Negara Malaysia (BNM), The Association of Banks in Malaysia (ABM), and the Malaysian Investment Banking Association (MIBA). With over 35,000 members, AICB aims to strengthen the banking workforce with the highest standards of professional conduct, knowledge, and competence through our banking qualifications.

AICB is the only institute in Southeast Asia that is authorised by the Chartered Banker Institute, UK, to award the Chartered Banker status. The Institute continues to support the growth of its members through innovative learning and by advocating professionalism, advancing thought leadership, and facilitating networking opportunities.

For more information on AICB, please visit www.aicb.org.my

[1] New Straits Times. (2024, August 12). RM3.2B lost to online scams between 2021 and April 2024 – Gobind: New Straits Times. https://www.nst.com.my/business/economy/2024/08/1090337/rm32b-lost-online-scams-between-2021-and-april-2024-gobind

[2] Bernama. (2024, June 27). 14,490 cases of online fraud recorded in first half of this year – Kulasegaran.. https://www.bernama.com/en/news.php?id=2311959

[3] Nasdaq. (2024). NASDAQ Verafin 2024 global financial crime report. https://www.nasdaq.com/global-financial-crime-report

 

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SOURCE IBPO Group; The Asian Institute of Chartered Bankers (AICB)

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Karma Automotive Announces Eximius, the Bespoke Vehicle Program for Elite Clients Seeking Singular Expressions of Extreme Performance and Bold Craftsmanship

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The First Eximius Creation, “Eximius 1,” is a Menacing Four-Seater Built for the Track which Makes its World Premiere at the 2026 Concours at Wynn Las Vegas

LAS VEGAS, Oct. 31, 2026 /PRNewswire/ — Karma Automotive builds vehicles in the hundreds rather than the thousands, attracting a highly individualistic clientele seeking a unique statement. For those who wish to go further still, and explore new possibilities beyond the extensive options for personalization available through the Studio program, Karma has created the Eximius bespoke vehicle program. Eximius clients may modify the vehicle’s body, performance and powertrain, collaborating with Karma’s design and engineering teams to build a One-of-One statement which will never be repeated.

Karma Eximius clients may modify the vehicle’s body, performance and powertrain to build a One-of-One statement

The first vehicle from Karma Eximius debuts today at the 2026 Concours at Wynn Las Vegas. A menacing four-seater purpose-built for the track, “Eximius 1” is in ongoing development with its commissioning client, who is not revealed at this time. Upon delivery in 2027, “Eximius 1” will be fitted with an extreme-performance Plug-in Series Hybrid utilizing a 6.2 Liter V8 producing nearly 1200hp (550hp ICE, 645hp battery), delivering acceleration from 0-60mph in 2.7 seconds and a top speed in excess of 200mph (estimated). As these parameters would demand, “Eximius 1” will be equipped with carbon-ceramic brakes and two-piece slotted brake rotors, and Ohlins semi-active suspension.

“‘Eximius 1’ began as a conversation with an elite client who loves their Karma Revero, but wanted something more extreme and unexpected, which was music to our ears,” says Marques McCammon, President and Chief Executive, Karma Automotive. “The Eximius program effectively deletes the word ‘no’ from conversations about what’s possible,” he continues, “and as a four-seat track weapon packing what’ll be the most powerful Plug-in Series Hybrid powertrain and vehicle ever developed, ‘Eximius 1’ shatters expectations and further establishes Karma as a manufacturer of exotic, uniquely American vehicles.” 

Exterior Design
“Eximius 1” is an imposing vehicle to behold, exhibiting the muscularity and eyepopping strength of a superhero. Every panel – excluding the body surface outer – is constructed of pre-impregnated carbon fiber, and the vehicle is 50mm wider due to its wheel arch extensions. The front doors and hood have a unique technical fade from glossy, exposed regular carbon fiber to signature Borealis Blue paint.

The front carbon splitter sets an aggressive tone and is flanked by massive side air intakes incorporating Karma’s Target Acquisition Lighting, rotated 45º to create a distinctive ‘><‘ DRL graphic identity. On the hood, the dramatic arc of the Comet Line – which is inspired by Halley’s Comet is it streaks across the evening sky – widens from its apex towards the base of the windshield; vents above the front fenders release air pressure from the wheel housings and add further visual intrigue. Moving to the side of the vehicle, the front fenders aft of the wheels feature Karma’s signature “Backslash” bearing the number “5,” which is of particular significance to the commissioning client. 21″ Magnesium wheels with center-locks reduce rotating and unsprung mass, and are finished in satin black. Aft of the driver’s side front wheel, twin exhaust tips announce the fearsome new powertrain.

The full-width rear GT wing maximizes stability and downforce at high speeds, and continues the distinctive ‘><‘ DRL graphic identity established at the front of “Eximius 1.” The rear fascia also boasts large side air intakes which are connected by a dominant diffuser to manage underbody airflow.

Interior Design
An aura of intensity continues to the interior of “Eximius 1.” In concert with the exterior, blue-tinted carbon-fiber adorns the seats, flat-bottom steering wheel and doors; for aesthetics and weight-savings, all four doors are manufactured in exposed carbon fiber with one purposeful arm pad on each door. The seats, which are Recaro carbon fiber buckets up front, are trimmed with blue Alcantara and blue Italian leather with Moondust Alcantara upper sections, creating an articulated, form-fitted feel. To support high-speed driving and intense braking force, the accelerator, brake pedal and dead pedal are billet machined aluminum.

The instrument panel is reimagined in glossy carbon fiber and incorporates anodized billet aluminum HVAC vents. The carbon fiber center console is simplified to include the essentials only: the PRND gear selector, window switches, key fob holder, and Emergency kill switch. This console extends through to the rear compartment, to which the client’s custom-fitted carbon fiber racing helmet is held in place by a center-latched strap matching the blue seat belts.

About Karma Automotive
Karma Automotive is America’s only full-line ultra-luxury vehicle manufacturer, and a pioneer of Plug-in Series Hybrid vehicles which it manufactures at its Karma Innovation and Customization Center (KICC) in Moreno Valley, CA. Its Executive, Product Development, and Design headquarters are located in nearby Irvine, CA. The Karma portfolio embodies California’s spirit of innovation and entrepreneurial boldness, reflected by the signature Comet Line which is the central hallmark of Karma’s new design language. The Gyesera Grand Coupe, a Plug-in Series Hybrid four-seater, arrives at dealerships in December 2026; and the Amaris GT 2-Door Plug-in Series Hybrid arrives in Q4 2027. The Karma Kaveya Super Coupe, with over 1,000HP and butterfly-doors, will arrive in Q1 2028, to be followed by the Karma Ivara GT-UV: both EVs will incorporate SDVA (Software-Defined Vehicle Architecture) developed with leading technology partners. For more information, visit www.karmaautomotive.com) 

Media Contact:

Joe Richardson, (917) 716-6617
Joe@BeautifulNoisePR.com 

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SOURCE Karma Automotive

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ModelBest and OpenBMB Open-Source MiniCPM-OCR Series, Delivering High-Performance Document Parsing and AI-Powered Quality Control

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BEIJING, Oct. 31, 2026 /PRNewswire/ — ModelBest and OpenBMB jointly announced the release and open-source availability of the MiniCPM-OCR series, a family of models for efficient document parsing and parsing-quality assessment. The launch includes two models: MiniCPM-OCR 1.0 (1.3B) and MiniCPM-OCR Jev (2B).

As the first OCR-focused model in the MiniCPM family, MiniCPM-OCR 1.0 brings top-tier parsing accuracy to a compact 1.3-billion-parameter architecture optimized for edge deployment, pushing forward the balance between efficiency and performance for open-source OCR models. Built for real-world conditions, it accurately parses scanned, photographed, curved, tilted and screen-captured documents without cumbersome image pre-correction, lowering the barrier to large-scale document digitization.

The model handles dense bilingual Chinese-English content, complex mathematical formulas, and multi-level or borderless tables, consistently performing at a leading level across a broad range of mainstream industry evaluations. Beyond full-page reconstruction, it supports key information extraction (KIE), pulling specified fields from invoices, IDs and financial statements according to business instructions.

Powered by DSpark decoding acceleration, MiniCPM-OCR 1.0 significantly increases end-to-end throughput while lowering per-page latency. For enterprises processing millions of pages—such as financial contract archives, academic libraries and government records—this means processing far more documents with the same hardware and time budget, at a substantially lower computing cost.

To address the long-standing need for page-by-page manual review, ModelBest and OpenBMB also introduced MiniCPM-OCR Jev, the first OCR result decision model that acts as an “AI quality inspector.” Rather than performing OCR itself, Jev compares the source image with OCR output and rapidly assigns confidence scores to text, LaTeX formulas and tables, detecting missing characters, errors and formatting misalignments. Despite its compact 2B-parameter size, Jev delivers judgment accuracy typically associated with far larger models.

Jev supports cross-model deployment and can be integrated into existing OCR workflows without replacing the underlying OCR engine. It can automatically identify reliable results for direct processing, flag potentially inaccurate outputs for human review and select the best result from multiple OCR systems. This enables enterprises to move from full manual inspection toward risk-based, automated quality control.

The MiniCPM-OCR series is available on GitHub, Hugging Face and ModelScope, and supports vLLM, SGLang, llama.cpp and Ollama, along with SDKs, APIs, Agent Skill plugins and open-source fine-tuning code. Day-0 hardware adaptation covers AMD, Arm, Houmo AI, Intel and NVIDIA. Through the FlagOS software stack, it also has Day-0 support for AI and edge chips from CIX Technology, Huawei Ascend, Hygon, Iluvatar CoreX, Kunlunxin, MetaX, Moore Threads, Sunrise, T-Head, TsingMicro, NVIDIA and Apple Mac (Arm).

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SOURCE ModelBest

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Wulcea Elevates Consumer Trust in Heated Apparel Through Multi-National Safety Certifications and Rigorous Technical Testing

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NEW YORK, Oct. 31, 2026 /PRNewswire/ — As smart heated clothing gains broader adoption, consumers are paying closer attention to the safety and reliability of the technology behind these products. Wulcea, a brand specializing in graphene-powered heated apparel, combines its flexible GrapheneNano™ heating technology with documented safety compliance and durability testing for its heating components and battery systems.

“Trust in smart heated apparel goes beyond warmth—it comes down to confidence in battery safety and heating element reliability,” said John C, Founder of Wulcea. “Our goal is to give users peace of mind through certified technical standards.”

Advanced Graphene Heating Elements Supported by Global Standards

At the core of Wulcea’s thermal architecture is its GrapheneNano™ heating technology. Engineered to eliminate garment stiffness, Wulcea integrates flexible graphene elements that deliver balanced warmth across key upper-body zones while preserving natural garment drape and full freedom of movement.

Wulcea supports its heating components with applicable compliance documentation for major markets. These include CE and FCC compliance documentation addressing relevant electrical and electromagnetic compatibility requirements, as well as PSE compliance for applicable products in Japan. RoHS compliance further addresses restrictions on specified hazardous substances in applicable electrical and electronic components.

Multi-Certified Battery System for Dependable Power

To power its heating elements, Wulcea pairs its heated apparel with rechargeable battery systems designed for convenient everyday use. Featuring a compact design and housed in dedicated interior pockets, the batteries provide portable power while maintaining a streamlined garment profile and comfortable fit.

Wulcea backs its battery options with comprehensive third-party accreditations. UL certification demonstrates that the battery system has been evaluated against recognized power bank safety requirements, covering key areas such as overcharge protection, short-circuit protection, and thermal safety. The battery systems are also supported by applicable CE and FCC compliance documentation, addressing relevant regulatory requirements for electrical and electromagnetic compatibility.

For daily handling and travel, RoHS compliance validates that the battery system meets stringent global standards for material safety. The battery models have also undergone applicable UN 38.3 testing, supporting compliance with international requirements for lithium battery transportation.

Real-World Durability and Practical Usability

Component compliance forms Wulcea’s foundation, but reliability is defined by real-world performance. Built for high-flex endurance, Wulcea’s flexible graphene heating elements are tested through 10,000 active flexing cycles to maintain steady thermal output through repeated bending and everyday body movement.

Everyday convenience is equally essential. Built for hassle-free care, Wulcea’s heating elements withstand 100 machine-wash cycles under standard care guidelines, maintaining internal conductivity and structural stability under repeated laundering.

Integrated NTC temperature sensors provide thermal monitoring and are designed to stop heating if temperatures exceed 131°F (55°C). Combined with runtime of up to 10 hours on the low setting and a discreet interior control button, these features support practical everyday use in cold-weather conditions.

Aligning Technical Standards with Everyday Warmth

By combining graphene-based heating technology with documented battery safety compliance and durability testing, Wulcea continues to focus on the technical foundations of dependable heated apparel. This approach reflects the brand’s emphasis on bringing together safety considerations, practical functionality, and everyday comfort for cold-weather use.

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SOURCE Wulcea

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