21/10/2021
Why Be The Fall Guy When Others Committed Corruption ?
The most stringent law on corruption is here, don’t put a noose on your own neck for others greed
What is MACC Section 17A
The new Section 17A of the MACC Act 2009 was the most stringent enactment introduces corporate liability on commercial organizations. Under this act, any The company, its directors & managers can be prosecuted for acts of corruption committed by ANY employees or contractors
Who are personally liable in the organization
The Act provides that directors, partners and managers of the commercial organization are PERSONALLY LIABLE for not preventing corruption in the organization
What is the penalty
The minimum penalty is a fine of not less than ten (10) times the value of the gratification in question or RM1,000,000.00, whichever is higher, or imprisonment for a term not exceeding twenty (20) years, or to both.
What is your defence
Having Adequate Procedures in place is the only defense when prosecution arises. Adequate procedures can be prepared, implemented and enforced effectively following the 5 guidelines provided by the Act
(a) Top-Level Commitment
(b) Risk Assessment
(c) Undertake Control Measures
(d) Systematic Review, Monitoring and Enforcement
(e) Training and Communication