Latest news with #ICTMS2025
Malay Mail
7 hours ago
- Business
- Malay Mail
AI, blockchain tech can either fight corruption or fuel it, says MACC chief
KOTA KINABALU, June 18 — 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
The Sun
7 hours ago
- 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
8 hours ago
- 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
Barnama
9 hours ago
- Politics
- Barnama
Mining Graft Case: Two Sabah Reps Expected To Be Charged This Month
KOTA KINABALU, June 18 (Bernama) -- Two Sabah assemblymen and another individual are expected to be charged in court here this month in connection with a corruption scandal involving mineral mining licensing in the state. Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Azam Baki said the commission is in the process of completing its investigation, with all three suspects having been called to give their statements. 'They will be charged in court within this month, possibly by the end of the month. We are currently awaiting a date from the court,' he told reporters here today. He said this when met by reporters after officiating the International Conference on Technology, Management and Sustainability (ICTMS 2025), organised by the Accounting Research Institute (ARI), Universiti Teknologi MARA (UiTM), here today. When asked about the authenticity of viral videos linked to the scandal, Azam said that the MACC's investigation does not rely solely on video evidence. He said that the matter could not be further commented on as it might be sub judice, adding that the evidence would be submitted to the public prosecutor for evaluation and brought to court if necessary. He also stressed that the MACC's investigation considers various forms of evidence, including statements from individuals involved, to verify the authenticity of any audio-visual material. Previously, several video recordings allegedly showing corruption-related conversations between certain individuals and several Sabah lawmakers related to mineral mining issue in the state went viral. -- BERNAMA
The Star
10 hours ago
- Business
- The Star
South-East Asia risks becoming cyber fraud hub, Azam Baki warns
KOTA KINABALU: South-East Asia is fast becoming a hub for cyber-enabled fraud with cross-border criminal syndicates exploiting digital platforms and weak governance to perpetrate large-scale financial scams, says Tan Sri Azam Baki. The Malaysian Anti-Corruption Commission (MACC) chief commissioner said recent investigations, both domestic and international, pointed to disturbing activity of transnational digital crime networks in the region. 'Digital platforms have become the preferred medium for fraud syndicates. These groups are sophisticated, well-funded, and take advantage of gaps in regulation and enforcement across jurisdictions,' he said at the International Conference on Technology, Management and Sustainability (ICTMS 2025) here on Wednesday (June 18). ALSO READ: Online fraud cases see big jump in early 2025 Addressing the growing global challenge of digital crime and corruption, he said Malaysia had taken steps to disrupt these criminal networks by working with partners such as Interpol. He cited the wide-ranging Ops Tropicana probe of investment scams and digital fraud operations as an example. 'Ops Tropicana uncovered large-scale investment fraud involving the use of online platforms, digital wallets and cross-border fund transfers. "These syndicates often enlist professional enablers, including accountants, company secretaries, and legal advisers, to legitimise their operations. 'These are not simple scams. They are well-structured operations... (that are) much harder to detect and prosecute,' he said. ALSO READ: Quantum leap in cybersecurity and fighting fraud MACC intelligence found that digital fraud syndicates have evolved from petty online scams into highly organised ecosystems, often operating call centres and shell companies across the region to mask their activities, he noted. 'These criminal networks are agile. They move operations across borders, target regulatory grey zones, and adapt rapidly to enforcement tactics,' Azam said, stressing the need for international cooperation to fight this threat. Azam also called for stronger legal frameworks governing technology, more robust oversight of digital finance and fintech (financial technology) platforms, and tightening company formation procedures, which are often exploited to hide ownership and the flow of illicit funds. 'Digitalisation has unlocked tremendous opportunities, but it has also created new risks. It is time for regulators, businesses, and governments to work together in preventing digital platforms from becoming safe havens for crime,' he said. He also told conference participants in his keynote address that digitalisation without ethical oversight is a recipe for disaster. ALSO READ: Scam calls hit record in Thailand before cyber fraud crackdown He said that while digital tools such as artificial intelligence (AI) and blockchain offer vast potential, they must be accompanied by strong governance frameworks. 'Without proper oversight, automation can be abused. Without proper controls, these innovations become vulnerabilities, not solutions. 'Technology is not the enemy. Poor governance is. "Corrupt individuals exploited system loopholes, not because the technology failed, but because the human controls around it were weak. "In the rush to digitalise, many forget that machines do not make ethical decisions, people do. We cannot rely on technology alone to prevent abuse. We need oversight, we need regulation, and above all, we need integrity,' he stressed. To mitigate risks, Azam proposed a modern anti-corruption strategy grounded in digital integrity. ALSO READ: Trapped in cycle of scams This includes the use of blockchain forensics, AI (artificial intelligence)-driven auditing, real-time surveillance systems, and stronger collaboration between regulators, academia and enforcement agencies. 'Digital systems must not just be smart … they must be governed smartly. It is time we reform not just our tools, but our thinking,' he said. He added that good technology must be matched with capable leadership. 'When management neglects controls, digital platforms can be hijacked. Whether it's social aid being redirected to ghost recipients or ESG (environmental, social and governance) claims manipulated with falsified data, the result is the same: fraud thrives where governance fails," he said. He encouraged participants, who included academics, researchers and industry professionals, to be active in promoting responsible digital development. 'Let this conference spark new collaborations to advance not only technology, but the values that guide it,' he said. ICTMS 2025, organised by Universiti Teknology Mara's (UiTM) Accounting Research Institute (ARI), focuses on the intersection of technology, ethics and sustainability.
