Fighting bribery and corruption: the burden of establishing innocence is now on corporate directors
In Malaysia apathy and ignorance towards bribery and corruption in your business will personally cost you. Malaysia’s seemingly never-ending battle to combat bribery and corruption took a decidedly different turn on June 1st of this year, as specific measures go into effect that saddle corporations and other organisations – along with their directors, controllers and senior management – with the full burden of proving that they are not involved in allegations of corrupt activity by their employees and third-party partners. That burden of proof means that corporations will have to effectively demonstrate that policies and procedures are firmly in place that deter, detect and defend against incidences of bribery at all levels of the organisation.
The State Of Corruption In Malaysia
While a large part of the political and economic universe still believes that engaging in some form of corruption is the only way to survive and advance, many countries now are taking drastic measures to root out corruption, and Malaysia is rushing to the forefront of that trend. Currently ranked at 51 out of 180 countries on Transparency International’s “Corruption Perception Index” (2019), with a score of 53 (where 0 is perceived to be highly corrupt and 100 is perceived to be very clean), the Malaysian government emerged from the highly publicized 1MDB financial scandal on high alert and with a firm resolve to adopt tough anti-corruption legislation as one of its main priorities.
The result was the empowerment of the Malaysian Anti-Corruption Commission (MACC) and its 2009 Act which addressed corruption on both the political and private sector levels. The Parliament’s subsequent amendment – Section 17A – was added in 2018 which likened the legislation to the UK Bribery Act, but added a “parallel” element of personal criminal liability in corporate bribery cases. And that’s where business organisations need to take notice, and take immediate action.
How to demonstrate “Adequate Procedures” in Malaysia?
Click here to read the rest of the article and learn more about the state of corruption in Malaysia and find out how to demonstrate Adequate Procedures when fighting bribery and corruption with our Anti-Bribery Anti-Corruption (ABAC®) Center of Excellence Solutions!
About CRI Group
In 2016, CRI Group launched Anti-Bribery Anti-Corruption (ABAC®) Center of Excellence – an independent certification body established for ISO 37001:2016 Anti-Bribery Management Systems, ISO 19600:2014 Compliance Management Systems and ISO 31000:2018 Risk Management, providing training and certification. ABAC® operates through its global network of certified ethics and compliance professionals, qualified auditors and other certified professionals. As a result, CRI Group’s global team of certified fraud examiners work as a discreet white-labelled supplier to some of the world’s largest organisations. Contact ABAC® for more on ISO Certification and training.
Omoye Osebor is the Business Development Executive and Investigative Analyst for CRI Group and its subsidiary ABAC®. Working with a range of industries and organisations, she is focused on providing an unparalleled high service level, developing quality solutions, driving service improvement, innovation and value in order to continuously exceed client expectations. Day to day she supports fundamental operations encompassing client service and client relationship building. She is knowledgeable in risk, compliance, anti-bribery and corruption solutions to clients and industry professionals.
Ashelea is the head of the Investigations team in Dubai, leading the due diligence, background screening and corporate investigations for multinational clients across a variety of key industry sectors: public relations and advertising agencies of global brands, international law firms, aerospace and defense, nuclear and energy companies.
Raheel is Assistant Manager of the Investigations team in Islamabad, specifically leading the due diligence sector of investigation department, he is also working in background screening, corporate and individual investigations for multinational and national clients across a variety of key industry sectors: Oil and energy, Media, NGO’s, Engineering, Construction, Aerospace and Services providing companies.
Corporate Research and Investigations Limited is an approved supplier to the Oman Oil and Gas Industry’s Joint Supplier Registration System.
Certification for ISO/IEC 27001 Information Security Management (ISMS) helps to manage and protect the information assets so that they remain safe and secure
Certification for ISO/IEC 27001 Information Security Management (ISMS) helps to manage and protect the information assets so that they remain safe and secure.
CRI Group has been granted accreditation by the Dubai Accreditation Department (DAC) for the scope of ISO 37001:2016 Anti-Bribery Management System Conformity Assessment Body.