Latest news with #DeferredProsecutionAgreement
The Sun
18-06-2025
- Business
- The Sun
AI, blockchain technology can enhance audit quality and compliance
KOTA KINABALU: Digital innovations such as artificial intelligence (AI) and blockchain technology in work processes, taxation, e-commerce, and ESG (environmental, social and governance) reporting hold significant potential to enhance audit quality and facilitate greater compliance. Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Azam Baki said that while advanced technologies bring numerous benefits, they also present new opportunities for corruption, fraud, and abuse of trust if not properly governed. 'From a governance standpoint, even the most robust systems can be manipulated if those managing them lack integrity and accountability,' he said. He said this when officiating the International Conference on Technology, Management and Sustainability (ICTMS 2025), organised by the Accounting Research Institute (ARI), Universiti Teknologi MARA (UiTM), here today. Speaking to reporters later, Azam said the MACC is actively developing a new system aimed at enhancing the efficiency and impact of anti-corruption enforcement efforts. According to him, the adoption of modern technology has significantly accelerated the Malaysian Anti-Corruption Commission's (MACC) investigation and intelligence processes, with most cases now being resolved within three to six months, compared to previous years. Meanwhile, Azam said the MACC is also in discussions with the Attorney-General's Chambers to implement a Deferred Prosecution Agreement (DPA), an initiative focused on the recovery of large sums of money to be returned to the country. 'This new approach will involve setting policy for cases that emphasise not just prosecution, but also the recovery of funds, particularly in high-profile cases,' he said.
Barnama
18-06-2025
- Business
- Barnama
AI, Blockchain Technology Can Enhance Audit Quality And Compliance
GENERAL KOTA KINABALU, June 18 (Bernama) -- Digital innovations such as artificial intelligence (AI) and blockchain technology in work processes, taxation, e-commerce, and ESG (environmental, social and governance) reporting hold significant potential to enhance audit quality and facilitate greater compliance. Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Azam Baki said that while advanced technologies bring numerous benefits, they also present new opportunities for corruption, fraud, and abuse of trust if not properly governed. 'From a governance standpoint, even the most robust systems can be manipulated if those managing them lack integrity and accountability,' he said. He said this when officiating the International Conference on Technology, Management and Sustainability (ICTMS 2025), organised by the Accounting Research Institute (ARI), Universiti Teknologi MARA (UiTM), here today. Speaking to reporters later, Azam said the MACC is actively developing a new system aimed at enhancing the efficiency and impact of anti-corruption enforcement efforts. According to him, the adoption of modern technology has significantly accelerated the Malaysian Anti-Corruption Commission's (MACC) investigation and intelligence processes, with most cases now being resolved within three to six months, compared to previous years. Meanwhile, Azam said the MACC is also in discussions with the Attorney-General's Chambers to implement a Deferred Prosecution Agreement (DPA), an initiative focused on the recovery of large sums of money to be returned to the country. 'This new approach will involve setting policy for cases that emphasise not just prosecution, but also the recovery of funds, particularly in high-profile cases,' he said. -- BERNAMA
Business Insider
05-06-2025
- Business
- Business Insider
Boeing enters into Non-Prosecution Agreement with DOJ
According to a regulatory filing, on May 29, 2025, Boeing (BA) entered into a Non-Prosecution Agreement with the U.S. Department of Justice that, subject to court proceedings, resolves matters relating to the Department's determination that the company did not fulfill its obligations under the previously-disclosed Deferred Prosecution Agreement entered into by the company and the Department on January 6, 2021. Pursuant to the NPA, the company is subject to a $487.2M overall criminal monetary penalty, $243.6M of which was paid in 2021 pursuant to the DPA and the remaining $243.6M of which was included in amounts expensed by the company in 2024 pursuant to the proposed plea agreement between the company and the Department filed with the U.S. District Court for the Northern District of Texas on July 24, 2024. The NPA also requires the Company, among other things, to (1) pay $444.5M in additional compensation to the heirs and/or beneficiaries of those who died in the Lion Air Flight 610 and Ethiopian Airlines Flight 302 accidents, (2) to invest $455M in the Company's compliance, safety, and quality programs through the end of the term of the NPA, (3) to retain an independent compliance consultant to assess the Company's progress regarding remediation and implementation of the compliance measures described in the NPA and the attachments thereto, (4) to continue to implement a compliance program, and (5) to continue to undertake a review of its internal controls, policies and procedures. The Department agreed that it will not further criminally prosecute the Company for any conduct described in the NPA provided that the Company performs all of its obligations under the NPA, including those described above. The NPA has a term of two years from the date on which the Company retains the independent compliance consultant, unless the NPA is extended or terminated earlier as described therein. Confident Investing Starts Here:
Malaysiakini
25-05-2025
- Business
- Malaysiakini
'Deferred prosecution' plan should be further deferred
COMMENT | When the news surfaced in 2015 that Sarclad - a Rotherham-based private technology company - was rumoured to be the first to sign a Deferred Prosecution Agreement (DPA) with the UK's Serious Fraud Office (SFO), it sparked a raft of issues over the future of justice in corporate cases. It all started when Sarclad and a few other companies were invited by the SFO to attend DPA negotiations after an investigation was launched into irregularities in their business conduct - including allegations of bribery prohibited in the UK under the Bribery Act 2010 - across a number of jurisdictions. At that time, it was vehemently argued that...
Malay Mail
01-05-2025
- Business
- Malay Mail
MACC: Malaysia to adopt Deferred Prosecution Agreement model to tackle grand corruption by 2026
KUALA LUMPUR, May 1 — The Deferred Prosecution Agreement (DPA) will be implemented through amendments to the Malaysian Anti-Corruption Commission (MACC) Act 2009, with the proposed bill expected to be tabled in Parliament by mid-next year. MACC chief commissioner Tan Sri Azam Baki said the proposed amendment to the Act would soon be presented to the Special Cabinet Committee on National Governance (JKKTN), chaired by Prime Minister Datuk Seri Anwar Ibrahim. 'The DPA is a law that has been adopted by many developed countries, including the United States and the United Kingdom, to resolve grand corruption cases involving large business entities or institutions. 'Under the DPA, the entity or business institution involved must fulfil several conditions, including returning misappropriated funds or assets, paying penalties or fines, and complying with the requirements set by the enforcement authorities and the Attorney General's Chambers,' he said during an Executive Talk at the MACC Headquarters in Putrajaya yesterday. Azam explained that while the DPA could reduce both costs and lengthy court proceedings, it did not mean the accused would escape prosecution. 'Prosecution will still proceed, but it will be postponed. The DPA will only apply to cases involving grand corruption, not those involving smaller amounts. 'The decision to implement the DPA is not unilateral; it requires mutual agreement (between the prosecutor and the accused). The prosecutor must assess the case and agree on the justification for granting the DPA,' he said. Azam said that seized assets, fines, and penalties imposed on entities receiving the DPA would go into the national coffers and be nationalised. — Bernama
