Malaysia suffers RM277 billion losses over five years due to corruption - MACC

PUTRAJAYA: The Malaysian Anti-Corruption Commission (MACC) has revealed that the nation incurred losses totaling RM277 billion as a result of corruption over the past five years.

Its Chief Commissioner Tan Sri Azam Baki said the losses were calculated based on the cumulative estimate of the Gross Domestic Product (GDP) over the five-year period from 2018 until last year.

"This substantial amount could have been utilised to help the public in various ways, particularly in executing social projects such as hospital and school repairs. Regrettably, these funds have been depleted due to corrupt practices," he said in his speech at the launch of the National Anti-Corruption Strategy (NACS) 2024-2028 at the Putrajaya International Convention Centre (PICC) here today.

Prime Minister, Datuk Seri Anwar Ibrahim officiated the ceremony. Also in attendance were Deputy Prime Ministers, Datuk Seri Dr. Ahmad Zahid Hamidi and Datuk Seri Fadillah Yusof, as well as the Chief Secretary to the Government, Tan Sri Mohd Zuki Ali.

Azam said to ensure that the anti-corruption strategy has a significant impact, the drafting of the NACS is carried out using various approaches and methodologies to identify areas in the country that are vulnerable to corruption risks.

He said the NACS outlines a crucial strategy that focuses on enhancing integrity, transparency and accountability across various sectors in Malaysia, including politics, public administration, government procurement, law enforcement, legal and judicial institutions, the private sector and the general public.

"It comprises five main strategies and 60 sub-strategies that will be implemented over a five-year period, starting from this year until 2028.

"It is hoped that the NACS will serve as a catalyst to strengthen good governance in the country, aiming to prevent and combat corruption. This is to ensure that Malaysia's development agenda towards an integrated and corruption-free nation can be realised," he said.

-- BERNAMA

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