Whistleblowers to get financial rewards for exposing cartels, says MyCC

The Malaysia Competition Commission (MyCC) plans to provide financial rewards to whistleblowers who expose cartel activities or bid-rigging practices, following amendments to the Competition Act 2010 and the Competition Commission Act 2010. MyCC CEO Datuk Iskandar Ismail stated that stronger protection was necessary as cartel activities often remain secretive.

Previously, protection was insufficient, but now rewards will be provided in addition to enhanced protection. Whistleblowers previously faced job risks when disclosing confidential company information, which deterred them from coming forward. Once the amendments are implemented this year, MyCC will provide more comprehensive protection to individuals who report information.

MyCC will also make it easier for consumers to lodge complaints about anti-competitive practices. The commission invites individuals and companies with information on cartels to report it through various channels, including WhatsApp. The amendments also expand MyCC's role in conducting market studies that impact consumers, including in the digital economy and e-commerce sectors.