The corporate world is not short of corruption and bribery scandals. Previously, it has been reported and common knowledge that the risk of engaging in corrupt practices is high in the commercial sector, particular when it comes to bidding for tenders for projects and contracts worth millions of ringgits.
Hence, Section 17A implementation was deemed timely as there are concerns that businesses affected by Covid-19 crisis might lean towards corrupt practices to earn profits.
With the introduction of Section 17A of the MACC Act passed in parliament on April 2018 and its enforcement on 1 June 2020, it is indeed a wakeup call for many as drastic actions may be taken against this rampant activity to ensure a corruption-free business environment. The new provision, which is known as corporate liability, will encourage business activities to be conducted with integrity and good governance across business organisations.