Understanding ISO 37001: What is the Anti-Bribery Management System? (ABMS)
The ISO 37001 Anti-Bribery Management System (ABMS) is a comprehensive system for protecting businesses from bribery and corruption. It is a globally recognized standard for organizations to manage and improve their anti-bribery processes. The ABMS is designed to help organizations to detect, prevent, and address bribery and corruption risks in their operations. It covers areas such as corporate culture, policies and procedures, training, risk management, and due diligence.
The ABMS is based on seven key elements: an effective anti-bribery policy, risk assessment, due diligence, training, monitoring, reporting and investigation, and corrective action. These elements provide an integrated approach to bribery and corruption prevention. The ABMS helps organizations to identify and mitigate risks, determine appropriate internal controls, and create a culture of ethical behavior. It also includes a detailed compliance checklist to ensure that organizations are meeting all the requirements of the standard.
The ABMS helps organizations to identify and address bribery risks in their operations. Organizations need to understand the local laws and regulations that apply to their business, as well as the global regulations that apply to their operations. The ABMS also requires organizations to conduct due diligence on potential partners, suppliers, and customers. This due diligence helps organizations to assess the risk of bribery and corruption and to ensure that they are not inadvertently engaging in unethical practices.
Organizations can also use the ABMS to create a culture of ethical behavior. The standard encourages organizations to develop and implement policies, procedures, and training programs to ensure compliance with anti-bribery laws and regulations. The ABMS also requires organizations to develop a landing page to provide information on bribery and corruption risks, as well as contact information for reporting potential violations.
The ISO 37001 Anti-Bribery Management System is an important tool for organizations to protect themselves from bribery and corruption. It helps organizations to identify and mitigate risks, conduct due diligence, develop policies and procedures, and create a culture of ethical behavior. The ABMS also includes a compliance checklist and a landing page to help organizations meet all the requirements of the standard.
Malaysia's Current Landscape on Corruption Challenges
The Crime Statistics in Malaysia 2018 recorded by Department of Statistics Malaysia (DOSM) has shown an increase of Bribery crime cases surging in Malaysia. out of nearly 400 recorded cases, nearly 60% of those cases are falsely claimed! Knowing that however, the damages have been done on the reputation of people and companies affected.
Looking at the situation, MACC has come up with a detailed guideline to help assist companies to deal with such issue. ISO 37001 was born in Malaysia.
Statutory Laws and Compliance in Malaysia
In Malaysia, the government officials agency called Malaysia Anti-Corruption Commission (MACC) has introduced two major laws that address corruption; The MACC Act 2009 and Section 17A Corporate Liability Provision of MACC Act 2009 (Amendment 2018).
MACC Act 2009 focuses on individuals and public officials, whilst the Section 17A Corporate Liability Provision focuses on private sectors.Both statutory laws are establish to combat corruption activities happening in Malaysia.
The Malaysia Anti-Corruption Act Section 17A (MACC Act) Corporate Liability Provision is a critical piece of legislation that seeks to hold companies accountable for their actions in relation to corruption and bribery. This provision, which was introduced in 2018, applies to all companies registered in Malaysia, including domestic and foreign companies, and it applies to any act or omission committed within or outside Malaysia.
The MACC Act Section 17A Corporate Liability Provision provides that a company is criminally liable for an act or omission of its agents, officers, employees or other persons associated with it. This means that a company can be held responsible for acts of corruption and bribery committed by its staff, even if the company itself had no knowledge or involvement in such activities.
The MACC Act Section 17A Corporate Liability Provision requires companies to take proactive steps to prevent and detect any form of corruption or bribery. Companies should implement and maintain adequate procedures to prevent and detect any act or omission that could amount to corruption or bribery. This includes, among other things, establishing codes of conduct, implementing internal policies and procedures, conducting regular risk assessments, and creating internal monitoring systems.
Companies should also ensure that their staff are trained on the law and its implications for the company. Companies should also ensure that robust systems are in place to investigate any potential acts of corruption or bribery, and that appropriate disciplinary action is taken if any wrongdoing is discovered.
The MACC Act Section 17A Corporate Liability Provision is an important piece of legislation that seeks to hold companies accountable for any form of corruption or bribery committed by its agents, officers, employees or other persons associated with it. Companies should take proactive steps to ensure that they comply with the provision and take appropriate measures to prevent and detect any acts of corruption or bribery. Failure to do so can result in serious penalties, including fines and imprisonment.
National Anti-Corruption Plan 2019-2023
The Prime Minister of Malaysia launched the National Anti-Corruption Plan 2019-2023 (‘NACP’) in 2019.
The NACP aims to make Malaysia corruption-free by 2023. It focuses on six priority areas, namely political governance, public sector administration, public procurement, legal and judicial, law enforcement and corporate governance upon which six key strategies have been formulated.
A total of 115 initiatives are listed, expanded from the six key strategies mentioned above.
Guidelines on Adequate Procedures
The Guidelines on Adequate Procedures were launched by the Governance, Integrity and Anti-Corruption Centre of Malaysian (GIACC) on 10th December 2018, in pursuant to subsection (5) of section 17A of the Malaysian Anti-Corruption Commission Act 2009 (Act 694), as stated in the Malaysian Anti-Corruption Commission (Amendment) Act 2018.
The five adequate procedures principles: T. R. U. S. T.: Top Level Commitment, Risk Assessment, Undertake Control Measures, Systematic Review, Monitoring and Enforcement, Training and Communication.
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ISO 37001 Anti-Bribery Management System Consultants Malaysia
Veraiso Consultants is the leading provider of ISO 37001 consultancy and training services. With years of experience in the industry, they offer comprehensive services to organizations looking to achieve compliance with the ISO 37001 standard. Their experienced consultants are well-versed in the requirements of the standard and can provide tailored advice to help meet the necessary requirements. They offer a wide range of services, including gap analysis, implementation, monitoring and compliance.
Veraiso Consultants have developed a comprehensive Anti-Bribery Management System (ABMS) to ensure compliance with the ISO 37001 standard. This system covers all aspects of an organization’s anti-bribery management and provides the necessary framework for organizations to ensure compliance. The system is designed to be comprehensive and comprehensive, and covers everything from risk assessment and management to internal controls and monitoring.
The consultants at Veraiso are also experienced in delivering training on the various aspects of the ABMS. The training is designed to ensure that organizations understand the requirements of the standard and can develop, implement and monitor effective anti-bribery management systems. The consultants are also available to provide on-site support and advice, helping organizations to ensure compliance with the standard.
Veraiso Consultancy is committed to providing organizations with the best possible advice and support when it comes to meeting the requirements of the ISO 37001 standard. Their experienced consultants are highly knowledgeable and experienced in the field, making them the ideal choice for any organization looking to achieve ISO 37001 compliance. With their comprehensive services and training, organizations can be confident that they are taking the necessary steps to ensure compliance with the standard.
Key Elements in establishing ISO 37001 Anti-Bribery Management System
We understand the importance of implementing and adhere to our National Laws with regards to Anti-Corruption , specifically on Section 17A of the Malaysian Anti-Corruption Commission (MACC) Act 2009 (Amendment 2018) on corruption offenses by commercial organizations comes into force (1st June 2020).
Our professional certified Malaysian team has the technical skills and experience to help you in implementing preventive and countermeasures to combat and deal with anti-bribery issues, following ISO 37001 and also Malaysia Acts and Laws.
Critical aspects we will cover in our consultancy & training for your organization: