Latest news with #DPAs
Malay Mail
02-05-2025
- Politics
- Malay Mail
DPAs can return billions of funds and assets into national coffers — Hafiz Hassan
MAY 2 — In 'On the 'messages sent' in AGC's meeting with Jho Low's lawyers' written almost three years ago, I disagreed with then DAP chairman Lim Guan Eng's criticism of then Attorney General (AG) Idrus Harun for allowing meetings between his Chambers (AGC) with fugitive Low Taek Jho's — better known as Jho Low — lawyers. Did the meeting send the wrong message that Malaysia was willing to deal with crooks and wanted fugitives? I did not think so. The meeting or meetings in fact sent a clear message to Jho Low that the Malaysian prosecutors were independent, fair, impartial and objective. They had not allowed any personal views to improperly influence their decision. They had acted in the interests of justice, seeking within the bounds of the law, not merely to prosecute for the purpose of obtaining a conviction. The prosecutors were alert to Jho Low's rights as an accused person — equality before the law and the right to be presumed innocent. Jho Low's American lawyers were also well acquainted with what is known as deferred prosecution agreement (DPA). The United States (US) is where DPAs originated. Malaysia plans to amend the MACC Act to enable deferred prosecution agreement by mid 2026, which the author believes will help return billions of ringgit stolen in fraud cases to the country. — Reuters pic I then explained what DPA is. It has since become the mainstay of white-collar criminal law enforcement – not only in the US but in many common law countries such as the United Kingdom (UK) and Singapore. DPAs have become commonly invoked for offences of corruption, money laundering, and fraud. They have made their way into the UK and Singapore legislation through the Crime and Courts Act 2013 and the Criminal Justice Criminal Justice Reform Act 2018 respectively. But there is no equivalent legislation in Malaysia. So, it is heartening to read media reports of proposed amendments to the Malaysian Anti-Corruption Commission (MACC) Act 2009 to be tabled in Parliament by the middle of next year to enable DPAs to be implemented in the country. MACC chief commissioner Azam Baki reportedly said the proposed amendments to the Act would soon be presented to the Special Cabinet Committee on National Governance, chaired by Prime Minister Anwar Ibrahim. As Azam Baki explained, under the terms of a DPA, misappropriated funds or assets would be returned, which would go into the national coffers. DPAs can return billions of funds and assets into the national coffers. * This is the personal opinion of the writer or publication and does not necessarily represent the views of Malay Mail.
New Straits Times
30-04-2025
- Business
- New Straits Times
MACC pushes for deferred prosecution agreements to strengthen asset recovery
KUALA LUMPUR: The Malaysian Anti-Corruption Commission is hoping to use the proposed deferred prosecution agreements by the middle of next year to recover billions of ringgit stolen from the country. MACC Chief Commissioner Tan Sri Azam Baki said a proposed bill on the DPA will be presented to the Special Cabinet Committee on National Governance chaired by Prime Minister Datuk Seri Anwar Ibrahim. He said he hoped the bill would be tabled during Parliament's first sitting in 2026, in time to be used by midyear. "DPAs have been used by many developed countries, such as the US (United States) and the UK (United Kingdom), where the prosecution is deferred, assets recovered, and conditions applied to the organisation involved, by authorities and the Attorney-General's Chambers (A-GC), to which they must comply," he said during the MACC Executive Talk attended by media chiefs earlier today. Azam said such legislation was urgently needed due to the "changing times". He said DPAs would not be used for petty crimes, but rather for significant cases involving grand corruption and corporate liability. He said the DPA mechanism would allow the government to swiftly recoup embezzled public funds, potentially recovering up to RM40 billion. Azam added that DPAs could help avoid protracted court cases while still holding perpetrators accountable. "The legal practice is focused on deterrence. It is not about 'collecting taxes'... it's about a person or organisation who committed crimes," he said, adding that those behind corruption would not be allowed to walk free merely by returning the stolen funds. In October last year, Azam had said the commission was studying the implementation of the DPA to tackle large-scale corporate corruption cases. He had said the MACC was discussing its potential implementation with the A-GC, but the framework will be tailored to suit Malaysia's legal and regulatory environment. Prior to that, in June 2024, Azam had said that DPAs were only one of several improvements the MACC was looking into for amendments for the MACC Act. Keywords: Crime Law News Parliament Malaysia Corruption Reform Nst Legislation Macc Stolen Graft Dpa Malaysia News Tan Sri Azam Baki Related Articles Nation Mar 3, 2025 @ 5:34am MACC, Mongolia's graft busters ink MoU to strengthen anti-corruption cooperation Nation Apr 10, 2025 @ 2:59am [UPDATED] Deferred prosecution approach unavailable for Ismail Sabri, says MACC chief Nation Jan 4, 2025 @ 12:03am MACC strengthening investigation specialists for cryptocurrencies Nation Apr 28, 2025 @ 9:49am MACC, Brunei Anti-Corruption Bureau strengthen ties through new collaboration
Business Mayor
24-04-2025
- Business
- Business Mayor
Serious Fraud Office to let firms avoid prosecution if they flag up suspected crime
The Serious Fraud Office (SFO) has said it is prepared to let companies avoid prosecution if they self-report suspected financial crime and cooperate with investigators, in an important change to its previous guidance. The SFO, which investigates complex financial crimes, fraud and corruption, said companies that flag potential breaches would be offered the chance to negotiate a 'deferred prosecution agreement' (DPA), apart from in some 'exceptional' circumstances. These agreements usually allow the accused to avoid prosecution, unless they reoffend or violate other terms during the agreement. Under DPAs, prosecutors agree to suspend legal proceedings in exchange for the company agreeing to conditions such as fines, compensation payments and corporate compliance programmes. Previously, companies that self-reported to the SFO still ran the risk of a criminal conviction. The new guidance aims to make it more likely that businesses will step forward to report suspected wrongdoing. Nick Ephgrave, the SFO director, said: 'If you have knowledge of wrongdoing, the gamble of keeping this to yourself has never been riskier.' The anti-fraud agency said genuine cooperation would include the preservation of digital and hard copy records, and early engagement with authorities. If a company self-reports, the SFO has said it will respond with 48 hours, decide on whether to open an investigation within six months, and conclude any DPA within six months of starting negotiations. However, legal experts have warned it would still be difficult for companies to decide whether to self-report or wait for the SFO to uncover a problem. Andrew Smith, a partner at the law firm Corker Binning, said: 'Mr Ephgrave warns companies against trying to bury their skeletons. But in the unlikely event those skeletons are discovered by the SFO, simply pleading guilty can be a more attractive outcome than an earlier self-report.' skip past newsletter promotion Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy. We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion Ephgrave, a former Metropolitan police officer, joined the SFO as director in 2023. In October he said he wanted to improve incentives for individuals who help the SFO, such as paying whistleblowers in a US-style approach. In recent years, the agency has faced a series of big failures in some of its most high-profile cases, such as a failed prosecution of ex-Barclays directors in 2020, the collapse of a trial of ex-Serco executives, and the failure of a decade-long investigation of the mining company ENRC.
The Guardian
24-04-2025
- Business
- The Guardian
Serious Fraud Office to let firms avoid prosecution if they flag up suspected crime
The Serious Fraud Office (SFO) has said it is prepared to let companies avoid prosecution if they self-report suspected financial crime and cooperate with investigators, in an important change to its previous guidance. The SFO, which investigates complex financial crimes, fraud and corruption, said companies that flag potential breaches would be offered the chance to negotiate a 'deferred prosecution agreement' (DPA), apart from in some 'exceptional' circumstances. These agreements usually allow the accused to avoid prosecution, unless they reoffend or violate other terms during the agreement. Under DPAs, prosecutors agree to suspend legal proceedings in exchange for the company agreeing to conditions such as fines, compensation payments and corporate compliance programmes. Previously, companies that self-reported to the SFO still ran the risk of a criminal conviction. The new guidance aims to make it more likely that businesses will step forward to report suspected wrongdoing. Nick Ephgrave, the SFO director, said: 'If you have knowledge of wrongdoing, the gamble of keeping this to yourself has never been riskier.' The anti-fraud agency said genuine cooperation would include the preservation of digital and hard copy records, and early engagement with authorities. If a company self-reports, the SFO has said it will respond with 48 hours, decide on whether to open an investigation within six months, and conclude any DPA within six months of starting negotiations. However, legal experts have warned it would still be difficult for companies to decide whether to self-report or wait for the SFO to uncover a problem. Andrew Smith, a partner at the law firm Corker Binning, said: 'Mr Ephgrave warns companies against trying to bury their skeletons. But in the unlikely event those skeletons are discovered by the SFO, simply pleading guilty can be a more attractive outcome than an earlier self-report.' Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Ephgrave, a former Metropolitan police officer, joined the SFO as director in 2023. In October he said he wanted to improve incentives for individuals who help the SFO, such as paying whistleblowers in a US-style approach. In recent years, the agency has faced a series of big failures in some of its most high-profile cases, such as a failed prosecution of ex-Barclays directors in 2020, the collapse of a trial of ex-Serco executives, and the failure of a decade-long investigation of the mining company ENRC.
Yahoo
18-02-2025
- Business
- Yahoo
Councils lay claim to 7,000 family homes to claw back care bills
Are you having to use your home as security to pay for care? Get in touch money@ Thousands of families are being forced to hand over their estates to councils to pay off care home fees, The Telegraph can reveal. Cash-strapped local authorities across the country are in line to claim back £343m from care home residents' home sales after they die, NHS data shows. It comes after Labour scrapped a planned cap on care costs by the Conservatives as part of their pledge to ensure nobody would have to sell their house to pay for care. Across England last year there were 6,815 outstanding Deferred Payment Agreements (DPAs), which allow homeowners to pay for care by borrowing from the council and using their home as a security. After they pass away, the council will reclaim the debt either from the house sale or from other assets in their estate. Some 3,205 families agreed new DPAs last year, up 35pc from the year before. The loan lets homeowners delay the sale of their house to pay for care. But there are downsides as the cost of care will eat into the family inheritance. Some local authorities also charge interest as part of the agreement, with the rate capped at 4.25pc as of January 1 this year. The total debt tied up in DPAs has soared from £237m since 2020, a rise of more than 40pc. Essex County Council was pursuing the largest amount of debt of any local authority at almost £16m, followed by Lancashire County Council which is set to reclaim nearly £14m from care home residents. In 2023-24, councils successfully clawed back £90m from 2,295 families – an average debt of almost £40,000. Mike Padgham, of care provider Saint Cecilia's Care Group, said: 'Councils are cash-strapped and doing everything they can to avoid paying for care. So they are trying to encourage people to go to them and use a deferred payment agreement rather than go to a private provider.' However, these agreements are increasingly causing disputes between councils and families. In a recent case, Essex County Council was ordered to pay back over £11,000 in care fees to the family of an elderly man with dementia after the Local Government and Social Care Ombudsman found it had failed to carry out a financial assessment after his funds decreased. This resulted in the care home resident overpaying at a higher self-funding rate for longer. Mr Padgham said the risk of disputes would 'only increase' as more families find themselves paying for care. He said: 'We're still in the situation where people are selling their homes to pay for catastrophic care costs.' Jane Townson, of the membership body the Homecare Association, said: 'DPAs can provide vital financial flexibility for those entering residential care. Families frequently report delays, inconsistent eligibility criteria, and a lack of transparency about costs and repayment terms. These challenges can create unnecessary stress for people at a difficult time in their lives. 'It is crucial that councils administer DPAs fairly, promptly, and with full regard for the needs of individuals requiring care.' In England, someone in need of care will not be eligible for state funding if they have more than £23,250 in capital. Arranging a DPA with the local council is one way of covering the fees. The Government has launched an independent commission into reforming adult care amid soaring costs. However, a final report is not due until 2028. Campaigners have criticised successive governments for failing to adequately fund the crumbling sector. Some have warned that care providers are at risk of collapse due to the Government's National Insurance raid piling on extra staff costs. A spokesman for the Local Government Association said DPAs helped families manage costs without needing to sell their homes immediately and that councils were committed to 'offering this option sensitively and in discussion with individuals and their families'. They continued: 'While councils are keen to support people, they also have a responsibility to ensure public funds are managed effectively and that costs can be recouped and DPAs are a valuable tool in balancing these needs.' Essex County Council was contacted for comment. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
