In order to prevent Corruption in political parties, i would suggest:
1) Classify all political parties in Malaysia as Reporting Institutions under Anti-Money Laundering, Anti-Terrorism Financing and Proceed of Unlawful Activities or known as AMLA
2) As Reporting Institution under the AMLA, the political parties must conduct risk assesment, due diligence , submission of Suspicious Transaction Report(STR) and Cash Threshold Report(CTR) to Bank Negara Malaysia.
3) All political parties must appoint a Compliance Officer to ensure the parties does not contravened to any Laws especially on Political Funding.
Sir Nazri
Certified Financial Investigator
PhD candidate (Law)
