GEORGE TOWN: Leakages and misappropriation of public funds not only harm national financial management but also weaken public confidence in government institutions, warns the Malaysian Anti-Corruption Commission (MACC).
MACC Chief Commissioner Tan Sri Azam Baki emphasized that public funds, crucial for national development, must be managed with full accountability. “Misuse and weak internal controls lead to power abuse, wastage, and public burden,“ he said.
Among major cases highlighted were Op Water Sabah, involving a RM3.3 billion water supply project embezzlement, and a former Youth and Sports Ministry senior officer convicted of 96 charges related to forgery and money laundering.
“The MACC has seized luxury assets worth over RM3.5 billion and forfeited nearly RM28 billion in the past five years,“ Azam stated. “This shows our commitment to reclaiming stolen public funds.”
He spoke at the closing of the 2025 Public Sector Finance and Auditing Seminar (SKPSA) in Teluk Bahang, themed “Financial Integrity: Enforcing Compliance and Preventing Misappropriation in the Public Service.”
Azam also noted the upcoming Government Procurement Bill, aimed at enhancing transparency in government procurement. He urged accountants and auditors to report irregularities fearlessly to uphold integrity.
Additionally, he called for stronger whistleblower protections under the Whistleblower Protection Act 2010 and advocated for digital transformation in financial systems using AI and blockchain to detect fraud early.
The seminar was organized by Tunku Puteri Intan Safinaz School of Accountancy (TISSA) and Universiti Utara Malaysia (UUM), with MACC’s Financial Analysis Division. Attendees included UUM officials and nationwide participants. - Bernama
