Bribery Malaysia Prevention And Control Guidelines

With the change in the anti-corruption laws of Malaysia after passing of the anti-corruption amendment bill 2018, it is the directors, managers and officials who can be held liable for the bribery and corruption acts by the staff of their organization. This bill brings anti-corruption laws of Malaysia on par with the global standards. Many other developed countries have similar laws. They have been able to control corruption successfully. Malaysian government is also committed to fighting corruption and this bill shows its resolve to root out bribery Malaysia problems.

High Penalties and Punishments

This law recommends higher penalty than earlier. For example, non-compliance with these laws can result in RM 1 million or about $235,000 penalty. The jail term can go up to 20 years for the senior managers and directors. With such high penalties and severe punishments, most companies operating in Malaysia are anxious to be prepared for any eventuality. They are hiring people trained in anti-corruption and bribery subjects. Their company has taken measures to prevent and detect acts of corruption by their staff. They have established standard guidelines that all their employees, managers and directors must follow diligently.

The Bribery Malaysia Guideline, this guideline has been implemented by most medium and large organizations operating in Malaysia. These guidelines require risk assessment and taking effective measures to control cases of corruption by the staff of the organization. The job involves regular reviews and monitoring of various activities that contain the risks of corruption and bribery. The staff is given training and information about these issues. They are regularly updated about the latest changes in the bribery Malaysia laws.

Anti-bribery Management

It is necessary for any company operating in Malaysia to establish effective rules and guidelines to prevent, detect, monitor and respond to the incidents of bribery and corruption. The standards include complying with the laws and regulations that deal with the anti-corruption activities. All employees must be trained to detect and report such incidents. Bribery is a big risk faced by all organizations irrespective of the size of their business or the industry where they operate. Such incidents result in the loss of confidence in the company. The negative backlash can lead to reduced sales and financial losses. It can even result in the closure of the organization and prison terms for its directors and managers.

Most large organizations wanting to avoid bribery Malaysia allegations now have a dedicated department and trained officers to control the bribery and corruption incidents. They have established and implemented various measures to prevent any of their employees committing corruption and bribery offenses.

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