
THE Malaysian Anti-Corruption Commission (MACC) is open to conducting joint investigations with the Inland Revenue Board (IRB) into potential corruption linked to undisclosed offshore financial accounts.
MACC chief commissioner Tan Sri Azam Baki said such cooperation would depend on whether IRB was prepared to share intelligence with the anti-graft agency.
“We do not know which companies are on the IRB’s radar. We are willing to conduct joint investigations on corruption-related issues if the IRB is willing to share information with us,” he told an English daily.
Azam said cooperation among enforcement agencies is crucial in tracing suspicious fund flows, particularly in cases where tax evasion could overlap with corruption, abuse of power or money laundering.
He said MACC was ready to support any multi-agency effort aimed at safeguarding national revenue and strengthening financial governance.
Transparency International Malaysia (TI-M) president Raymon Ram said the discovery of offshore accounts involving 14,858 Malaysian tax residents and funds totalling RM10 billion should be treated as more than administrative non-compliance.
“Offshore secrecy is a well-known enabler of corruption, fraud, organised crime and aggressive tax evasion. It undermines trust when the majority comply while a minority attempts to opt out of the system,” he said.
He said enforcement should extend beyond tax recovery to MACC and relevant regulators where patterns suggested corruption proceeds, abuse of corporate vehicles or professional enablers.
Meanwhile, Centre to Combat Corruption and Cronyism (C4) CEO Pushpan Murugiah said the IRB findings pointed to deeper and long-standing governance and integrity issues.
“It fits a familiar pattern we’ve seen through the Pandora Papers, Panama Papers and Paradise Papers: Offshore secrecy isn’t just about ‘tax planning’, it’s a system that has repeatedly been used to hide wealth, avoid scrutiny and, in some cases, launder the proceeds of corruption or illicit activity,” he said.
He said offshore secrecy tended to thrive when enforcement was slow, fragmented or negotiable.
“Malaysia needs enforcement that is predictable, proportionate and insulated from interference,” he said.
He said Malaysia already had strong laws and agencies, but the real challenge lay in political will and institutional coordination to use them consistently.
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