Corporate Liability for Corruption in Malaysia

Corporate Liability for Corruption in Malaysia

Book Details
  • Publication Date : Apr - 2023
  • Author : Shanti Mogan, Lilien Wong & Yiew De Quan
  • ISBN : 9789672701866
  • Format : Softcover
  • Country : Malaysia

Corporate Liability for Corruption in Malaysia is the first publication in Malaysia focusing on corruption offences in the context of corporate liability covering the law, practice, as well as practical tips and solutions to address corruption risk in the corporate sector. This practical title offers insights to practitioners working on regulatory compliance matters as well as in-house legal counsel and management of organisations. It will also benefit academicians and students who have an interest in the development of corporate liability in Malaysia.

The introduction of Section 17A of the Malaysian Anti-Corruption Commission Act which came into force on 1 June 2021 has changed the way the business of doing business is regulated. Strict corporate liability applies to commercial organisations for the corrupt practices of any persons associated with the commercial organisation, be it an individual or a corporation, whether within or outside the organisation, where such acts are carried out for the commercial organisation’s benefit or advantage.

The statutory defence of proving that the commercial organization has in place adequate procedures to prevent persons associated with the commercial organization from undertaking such conduct has resulted in an increased demand for law firms to provide anti-bribery and corruption audits, review anti-bribery and corruption policies to remedy or mitigate gaps, draft anti-bribery and corruption policies, provide training to directors and persons concerned in the management of the affairs of commercial organisations on adequate procedures to combat corruption, and set up complaint or whistleblowing platforms; all with a view to eliminate or minimise the risk of liability exposure for corruption under the laws of Malaysia.

Table of Contents

Chapter 1: Introduction

Chapter 2: Corporate Liability

Chapter 3: Defence Applicable to Commercial Organisations

Chapter 4: Corporate Liability in Other Common Law Jurisdictions

Chapter 5: Deemed Liability of Individuals within Commercial Organisations for Corruption

Chapter 6: Uncovering Corruption

Chapter 7: Key Areas of Concern for Commercial Organisations

Chapter 8: Consequences of Corruption on the Underlying Transaction and the Organisation

Chapter 9: Extra-Territorial Application of the Malaysian Anti-Corruption Commission Act

Chapter 10: Corruption in the Private Sector

Chapter 11: Corruption in the Public Sector

Chapter 12: National and International Efforts in Addressing Corruption in Commercial Organisations

Chapter 13: Offences under the Malaysian Anti-Corruption Commission Act

Chapter 14: False Claims to Deceive Principal

Chapter 15: Complaint Procedure and Whistleblowing

Chapter 16: Dawn Raids

Chapter 17: Checklist and Precedents