AI Summary
Malaysia has reportedly lost an estimated RM277 billion (approximately USD 58 billion) due to corruption between 2018 and 2023, averaging RM55 billion annually. Malaysian Anti-Corruption Commission (MACC) chief commissioner, Azam Baki, expressed concern over the widespread impact of corruption on the nation's economy and systems. He cited an EMIR Research 2023 study suggesting potential losses of up to RM4.5 trillion from 1997 to 2022. Azam highlighted how corruption facilitates other crimes like document forgery and financial manipulation, undermining government and private sector integrity.
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