Cartel whistleblowers to get rewards, stronger protection, says MyCC
MyCC says such factors are crucial as cartel activities typically require the cooperation of whistleblowers connected to companies or consumers.
Malaysia Competition Commission (MyCC) pledges enhanced protection and rewards for individuals or companies providing information on cartel activities or bid-rigging practices, following amendments to the Competition Act 2010 and the Competition Commission Act 2010. MyCC CEO Iskandar Ismail emphasized the importance of stronger protection due to the secretive nature of cartel operations, which necessitate whistleblower collaboration.
Prior to the amendments, protection was inadequate, leading to the departure of complainants without compensation. Iskandar highlighted that whistleblowers risk job loss when disclosing confidential company information, discouraging them from coming forward. With the gazetting of the amendments this year, MyCC will now offer comprehensive protection to whistleblowers, facilitating public complaints about anti-competitive practices.
MyCC invites individuals or companies to lodge complaints via various channels, including WhatsApp, and intends to expand its role in conducting market studies impacting consumers, particularly in the digital economy and e-commerce sectors. MyCC's collaboration with international competition agencies also aids in detecting anti-competitive practices by foreign companies in the domestic market.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Cartel whistleblowers to get rewards, stronger protection, says MyCC freemalaysiatoday.com
