If convicted, the penalty is a fine of 10 times the value of the bribe or RM1mil, whichever is higher, or a jail term of up to 20 years, or both, under Section 17A of the same Act.While companies may find the new normal a challenge for business, the MACC has warned them not to resort to corrupt acts to boost their bottom line.
Shamshun with the guidelines on adequate procedures that companies can implement to prevent corruption. He urges companies that are struggling not to give in to corrupt practices out of desperation.Previously, MACC prosecuted agents who receive bribes on behalf of a company under Section 17 of the same Act, which carries a penalty of jail up to 20 years and a fine of five times the value of the bribe or RM10,000, whichever is higher.
Section 17A was modelled after Section 7 of the UK Bribery Act 2010 and Foreign Corrupt Practices Act 1977. It defines a person associated with a commercial organisation as a director, controller, officer, partner, those involved in the management of its affairs, and those who perform services for or on behalf of the organisation.The commercial organisations can defend themselves by showing they have implemented adequate procedures to prevent corruption in their operations or business activities.