Whistleblowers to get financial rewards for exposing cartels, says MyCC

The Malaysia Competition Commission (MyCC) has announced that it will strengthen protection and provide financial rewards to whistleblowers who expose cartel activities or bid-rigging practices. This change follows amendments to the Competition Act 2010 and the Competition Commission Act 2010. MyCC CEO Datuk Iskandar Ismail emphasized the importance of stronger protection, as cartel activities often occur secretly and require the cooperation of insiders.

Previously, protection was insufficient, and now, in addition to enhanced protection, financial rewards will be provided. MyCC will also make it easier for the public, particularly consumers, to lodge complaints regarding anti-competitive practices. The amendments allow MyCC to conduct market studies that significantly impact consumers, including in the digital economy and e-commerce sectors.

MyCC is inviting individuals or companies with information on cartels to lodge complaints through various channels, including WhatsApp.

Brief written by urgent.news from Malay Mail's own syndicated text. Machine-written — may contain errors; check the original before relying on it.