ANTI-BRIBERY – WHAT BUSINESSES NEED TO KNOW FOR THEIR OPERATIONS AND INVESTMENTS IN MALAYSIA

On 11th January, Bird & Bird published a briefing saying that an amendment to the law in Malaysia introduces corporate liability for corruption, and also imposes personal liability on directors, controller and management – described as “a new dawn in Malaysia in the fight against corruption”.  It is said to further than the UK Bribery Act, pinning responsibility squarely on directors, controllers and management for the commercial organisation’s corrupt acts, and beyond the law of Singapore in its reach and the size of penalties.  Crucially, when the new provisions are brought formally into effect, once an offence is committed by a commercial organisation, a director, controller or person concerned with management is deemed to have committed that offence unless that person proves that the offence was committed without his consent or connivance and that he exercised due diligence to prevent the commission of the offence as he ought to have exercised, having regard to the nature of his function in that capacity and to the circumstances.

https://www.twobirds.com/en/news/articles/2019/singapore/anti-bribery-what-businesses-needs-to-know-for-their-operations-and-investments-in-malaysia

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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