PUTRAJAYA: The so-called corporate mafia does not operate openly but uses legitimate frameworks to evade enforcement and is supported by networks of professionals, says Tan Sri Azam Baki (pic).
The Malaysian Anti-Corruption Commission (MACC) chief commissioner said such activities represent a form of organised crime that is far more complex than conventional offences.
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"We are no longer dealing with ordinary crime, but an organised criminal ecosystem driven by what I describe as a corporate mafia," he said during the Multi-Agency Task Force (MATF): Way Forward engagement session at MACC headquarters here on Thursday (April 2).
He said these groups operate using legitimate corporate structures to obscure their activities, backed by professionals such as accountants, lawyers, consultants and insiders within certain agencies.
"They not only shield illegal activities but also manipulate corporate structures, launder illicit funds and exploit systems to ensure these crimes continue undetected," he added.
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Speaking to reporters later, Azam said corporate crime encompasses offences such as fraud, corruption, abuse of power, share manipulation, investor deception and tax evasion.
He stressed that enforcement agencies including MACC, the police and the Inland Revenue Board must work together to address such crimes.
"This is the kind of corporate crime we are dealing with, and it requires coordinated action among enforcement agencies," he said.
In a separate development, commenting on the status of investigations involving Chai Jin Shern, also known as James Chai, a former aide to Datuk Seri Rafizi Ramli, Azam said the MACC had already issued a statement.
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"We are only waiting for his response," he added.
Earlier, it was reported that Chai had been given two weeks by the MACC to return to Malaysia to assist in the probe involving Arm Holdings.
To facilitate his return, the agency has offered to cover his travel expenses.
If he does not take up the offer, the MACC may then seek assistance from international enforcement agencies, including Interpol, to locate him and ensure his return.
