Transparency International Malaysia (TI-M) supports the action by the Malaysian Anti Corruption Commission (MACC) to blacklist companies found guilty of giving bribes, and adding their names to the MACC’s database of offenders.
Whilst some may argue that guilty companies have already been penalised by the courts, it is imperative that a strong message be sent to all that committing corrupt practices will have severe and far reaching consequences to the offenders.
International anti bribery legislation recognises the importance of addressing private sector corruption. Measures taken include making companies responsible for the actions of their employees, strong custodial sentences and heavy fines.
In Malaysia, the Corporate Integrity Pledge (www.cism.my) offers private companies a platform to affirm their commitment to fighting corruption. Moving forward it is crucial that companies have strong corporate governance controls and anti corruption measures in place within their organisation.
To complement the actions of the MACC, TI-M calls for the strengthening of current legislation to meet accepted international standards. This includes prosecuting a company and its directors when its employee is prosecuted for corrupt practices.
Strong punitive action is an important tool in fighting corruption. Blacklisting companies found guilty of giving bribes is a step in the right direction.
Transparency International Malaysia
Datuk Paul Low, President