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CH3: Corruption - Coggle Diagram
CH3: Corruption
Definition of Corruption
Corruption is a complex social, political and economic phenomenon that affects all countries. Corruption undermines democratic institutions, slows economic development and contributes to governmental instability.
Forms of Corruption
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- Unconventional corruption
- “Grand” and “petty” corruption
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Main Offences
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IV.Using Office or Position for Gratification (Bribe) (Abuse of Power/Position) [Section 23 MACC Act 2009]
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Enforcement taken by BNM
ØAs a regulatory and supervisory authority, BNM has the power to take enforcement actions against any person who contravene any of the laws administered by BNM, including the AMLA.
ØEnforcement actions taken by BNM have an important role in safeguarding the integrity of Malaysia’s financial system.
ØThese enforcement actions under amla can be categorised into actions against regulatees or non-regulatees.