First successful conviction in fight against white collar crime
KUALA LUMPUR: The special task force to quarrel white neck cuff crime has already achieved success by getting a self-assurance in a single of a 4 cases it investigated, pronounced Prime Minister Datuk Seri Najib Tun Razak.
While a self-assurance was performed opposite Grand Merger Resources Enterprise for bootleg money transaction underneath a Kootu Fund (Prohibition) Act, a case of bootleg deposition taking opposite Steven Corner has been referred to Bank Negara.
The alternative cases, relating to bootleg interest schemes opposite Island Red Cafe as well as Golden Nest Sdn Bhd underneath Section 84 of a Companies Act, have been tentative hearing in court.
The 4 have been among during slightest 100 complaints of monetary crimes allegedly committed by center managers in a country.
I am confident a task force will yield poignant await to a Government as it fights white neck cuff crimes as well as seeks to set up larger investor confidence, pronounced Najib during a informal Cambridge International Symposium on Economic Crime 2010 here yesterday.
His debate was out read by Domestic Trade, Co-operative as well as Consumerism Minister Datuk Seri Ismail Sabri Yaakob.
Ismail helms a task force, which was shaped in March, with Companies Commission of Malaysia (CCM) arch executive military officer Datuk Azmi Ariffin, who presides on a operative cabinet which consists of alternative regulators such as Bank Negara, police, a Securities Commission of Malaysia as well as a Cooperative Commission of Malaysia.
Najib pronounced a global mercantile crime survey in 2009 found which scarcely half of a monetary crimes were committed by center managers as well as that, as a result of a mercantile downturn which had influenced most organisations, during slightest a single in 13 respondents reported they had suffered from a effects of during! slighte st a single mercantile crime in a final twelve months.
Najib pronounced Malaysian organisations face a larger risk of rascal in a current mercantile downturn.
He cited bad communication, miss of codes of control as well as inadequate auditing as well as evaluation as possible contributors.
Having senior government except a need for providing as well as maintaining some form of ethical enlightenment was additionally not beneficial.
Najib, who commended CCM for introducing whistleblower provisions as well as protections through a Companies Act, pronounced CCMs framework was now protracted by a Whistleblower Act 2010.
Source: The Star
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