Financial Crime World

Here is the article converted into Markdown format:

Malaysia Establishes Integrity Unit to Enhance Public Sector Governance

The Malaysian government has taken a significant step towards promoting integrity in the public sector by establishing an Integrity Unit. This unit is responsible for implementing six core functions, including:

  • Governance: Implementing and overseeing governance practices
  • Strengthening Integrity: Strengthening integrity and ethical standards in the public sector
  • Detection and Verification: Detecting and verifying potential corruption cases
  • Complaint Management: Managing complaints and concerns related to public sector activities
  • Compliance: Ensuring compliance with laws, regulations, and policies
  • Discipline: Maintaining discipline and accountability among civil servants

Objectives

The establishment of the Integrity Unit is part of the government’s efforts to prevent corruption and increase transparency in the public sector. The unit will ensure that civil servants uphold the principles of integrity and accountability towards better public service.

Risk Classification and Rating

Risk levels are classified into high, medium, or low, and risk rating is required to be performed every three years. The Malaysian Anti-Corruption Commission (MACC) is responsible for implementing agency risk rating to determine the appropriate Integrity Unit model.

Profiling Activities

The Integrity Unit will conduct profiling activities, including:

  • Personal and Corporate Information Profiling: Gathering information on individuals and organizations
  • Criminal Information Profiling: Gathering information related to criminal activity
  • Financial and Investment Information Profiling: Gathering financial and investment-related information
  • Property Information Profiling: Gathering property-related information
  • Vehicle Information Profiling: Gathering vehicle-related information
  • Communication Information Profiling: Gathering communication-related information
  • Travel Information Profiling: Gathering travel-related information
  • Import/Export Trade Information Profiling: Gathering import/export trade-related information
  • Open Source Information Profiling: Gathering publicly available information

Sources

The sources for the above records are available from the database of:

  • The Malaysian Anti-Corruption Commission (MACC)
  • The Royal Malaysian Police
  • The Central Bank of Malaysia
  • The Attorney General’s Chambers (Special Task Force)
  • Relevant government and private agencies

These agencies will also act as data centers where the latest data are housed on their own or through the tap of relevant agencies.

Financial Analysis

In addition to profiling activities, financial and investment analysis will be conducted on:

  • Cash Threshold Reports (CTR): Gathering data from banks, stock exchanges, and other financial institutions
  • Suspicious Transaction Reports (STR): Gathering data related to suspicious transactions

Conclusion

The establishment of the Integrity Unit is a significant step towards promoting integrity and transparency in the Malaysian public sector. The unit’s efforts will help to detect and prevent corruption, promote ethical standards, and ensure that government activities are conducted in a transparent and accountable manner.