Revise corruption laws to give anti-graft body more power - TMI

TMI president Datuk Akhbar Satar has called on the government to amend Section 36 of the Malaysian Anti-Corruption Commission (MACC) Act 2009 to compel an individual in certain circumstances to declare his finances or assets without the MACC first launching a formal corruption investigation.

He said the Anti-Corruption Advisory Board and Parliament’s bipartisan Special Committee against Corruption have proposed that the Commission be given more bite to compel owners to declare their assets.

“TMI and the Bar Council have expressed their support for the law to be amended to give the anti-graft body more powers to probe individuals suspected of living beyond their means,” he said in a press statement.

“After a period of enforcement, people, including the corrupt and the bribers, begin to understand the legislations. If one wants to get involved in corrupt practices, he or she will find ways to avoid such being detected,” he said.

He reiterated that corruption law need to be adjusted and revised in order that it is able to sustain the deterrent effect on the bribers and the corrupt.

He said corruption related financial fraud cases are becoming more complex and multi-jurisdictional with the advance in information technology and the emergence of rapid changes in the financial markets.

“Often these cases are facilitated by professionals where multi-layers of fund flows, large numbers of parties, including offshore companies, and innovative and aggressive accounting techniques are involved,” he said.

“That is why forensic accountancy has become an integral part of our investigation techniques,” he added.

Citing the Hong Kong Independent Commission against Corruption (ICAC), he said the commission had the legal power to compel a person with” tremendous wealth” which does not match the income in their job position to declare his or her assets.

He said the laws were very effective when first introduced to catch the corrupt officials who had had no previous knowledge of such offences and had been in direct control of huge assets or living luxuriously.

“As such persons gradually learnt how the authorities investigated such accumulation of assets and became aware of the legislation; they began to devise methods of hiding their assets and to be seen as living normal lives,” he said.

Last year, Malaysia climbed up three places in the Corruption Perceptions Index (CPI) table, prepared by Transparency International.