Combating corruption has increasing risen to the top of policymakers and company agendas. Despite the fact that it has long been a prevalent issue, there is a greater awareness of the negative implications of corruption on both social and economic development. Malaysia has a history of implementing measures to tackle corruption and bribery, with cases occurring for the past four decades and no indication of it slowing. Cases such as the Sabah Water Department, 1MDB, Port Klang Free Zone (PKFZ) and Immigration Department Scandal in 2018 illustrate how corruption and bribery are embedded within Malaysia’s political and government institutions. As such, efforts must be made to tackle it effectively, with evidence suggesting that the increasing number of agencies which aim to do so are failing. However, the adoption of newly devised measures such as the introduction of corporate liability for corruption offences coming into effect in June could be a turning point for tackling corruption and bribery within Malaysia.
Increased efforts have been made to combat corruption, both nationally, regionally and globally due to the growing concern regarding its increasing incidence and negative implications. As a result of the extensive nature of corruption and bribery, the World Bank once identified it as one of the key barriers to social and economic development. Corruption is regarded as a complex, multifaceted phenomenon. Nevertheless, it is widely defined as the abuse of public power and violation of rules for private gains. Whilst there is a perception that it is carried out primarily by government officials, this issue can take place across a range of sectors and be executed by those other than government officials. Forms of corruption which take place include bribery, extortion, fraud, embezzlement, blackmail, illegal gambling, laundering and nepotism, all in which encompass the abuse and misuse of public power and authority. This includes public officials taking or offering bribes through money or service which is dishonest. Subsequently, it is often the abuse of trusted power for the benefit of personal gain. It is considered as a consequence of poor governance and undermines the legitimacy of the state.
Click here to read our full ABAC® article.[/vc_column_text][accordion_father][accordion_son clr=”#ffffff” bgclr=”#1e73be” title=”Let’s Talk!”]If you have any further questions or interest in implementing compliance solutions, please contact us.
CRI Group has safeguarded businesses from any risks, providing investigations (i.e. insurance fraud), employee background screening, investigative due diligence, business intelligence, third-party risk management, forensic accounting, compliance and other professional investigative research services. 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. Contact ABAC® for more on ISO Certification and training.[/accordion_son][accordion_son clr=”#ffffff” bgclr=”#1e73be” title=”Meet our CEO”]Zafar I. Anjum, is Group Chief Executive Officer of CRI Group (www.crigroup.com), a global supplier of investigative, forensic accounting, business due diligence and employee background screening services for some of the world’s leading business organisations. Headquartered in London (with significant presence throughout the region) and licensed by the Dubai International Financial Centre-DIFC, the Qatar Financial Center-QFC, and the Abu Dhabi Global Market-ADGM, CRI Group safeguards businesses by establishing the legal compliance, financial viability, and integrity levels of outside partners, suppliers and customers seeking to affiliate with your business. CRI Group maintains offices in UAE, Pakistan, Qatar, Singapore, Malaysia, Brazil, China, USA, and the United Kingdom.
Contact CRI Group to learn more about its 3PRM-Certified™ third-party risk management strategy program and discover an effective and proactive approach to mitigating the risks associated with corruption, bribery, financial crimes and other dangerous risks posed by third-party partnerships.
Zafar Anjum, MSc, MS, CFE, CII, MICA, Int. Dip. (Fin. Crime) | CRI Group Chief Executive Officer
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t: +44 207 8681415 | m: +44 7588 454959 | e: email@example.com[/accordion_son][accordion_son clr=”#ffffff” bgclr=”#1e73be” title=”Speak up – report any illegal, unethical, or improper behaviour”]If you find yourself in an ethical dilemma or suspect inappropriate or illegal conduct, and you feel uncomfortable reporting through normal channels of communication, or wish to raise the issue anonymously, use CRI Group’s Compliance Hotline. The Compliance Hotline is a secure and confidential reporting channel managed by an independent provider. When reporting a concern in good faith, you will be protected by CRI Group’s Non-Retaliation Policy.[/accordion_son][/accordion_father][/vc_column][/vc_row]