Under which laws is MACC conducting its Sapura Energy probe?

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MACC is Conducting its Sapura Energy Probe Under Two Specific Acts

The Malaysian Anti-Corruption Commission (MACC) has initiated investigations into Sapura Energy Berhad under two key pieces of legislation. These investigations are focused on alleged bribery, misappropriation of funds, and related financial crimes.
Investigation Under the MACC Act 2009

The MACC Act 2009 forms a primary legal basis for the ongoing probe into Sapura Energy. This act provides the framework for MACC's authority to investigate corruption offenses. The investigation papers were formally opened under this Act, signalling the commencement of a formal inquiry.
Investigation Under AMLATFPUAA 2001

In addition to the MACC Act, the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA) is also being utilised. This legislation allows for the examination of financial activities, including money laundering and the financing of terrorism, which are pertinent to the alleged misappropriation of funds. The inclusion of AMLATFPUAA underscores the focus on financial impropriety and the tracing of illicit proceeds.
Focus on Bribery and Misappropriation

Sources indicate that the two investigation papers specifically target money laundering activities and misappropriation that allegedly occurred around 2018. At that time, the company was known as Sapura Kencana Petroleum Berhad. The inquiry will also delve into perceived weaknesses in governance and management practices within the company.
Confirmation from MACC Chief Commissioner

Tan Sri Azam Baki, the Chief Commissioner of MACC, has confirmed the opening of these investigation papers. His confirmation validates that the investigations are proceeding under the aforementioned MACC Act 2009 and AMLATFPUAA 2001, highlighting the seriousness and legal grounding of the MACC's actions.

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Under which laws is MACC conducting its Sapura Energy probe?

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