Take the battle to private sector too
Akhbar Satar | 12 Apr 2019 00:30
A company CEO, Elizabeth Ken Tze Ying, along with the former Tourism Malaysia chairman Datuk Siew Ka Wai were detained by the Malaysian Anti-Corruption Commission (MACC) on allegations of abuse of power involving RM99 mil. This, along with the mounting number of corruption cases we read about, makes us wonder when will it all end?
Most of us would regard the public sector as the most corrupt sector in our country. But the fact is, it is the private business sector that holds the power to corrupt and which also practises corruption widely. The losses incurred through corruption are also more extensive in the private sector.
To be sure, there have been many cases where private sector staff and management have been arrested and charged by the MACC for corrupt practices. One senior MACC officer confirmed that corruption in the banking sector was huge. The largely hidden truth is that banks play an integral role in enabling corrupt practices. We can look at 1MDB as a case in point.
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