T20 & M40 Corruption: Property Ownership by Elected Representatives
3d Anti corruption
Lack of transparency and enforcement in declaration of Property Ownership potentially allows elected representatives to not declare property transactions. Elected representatives should be required to show source of funds for any property purchases made.
Value(s) and Belief(s):
Property is a highly valued asset in Malaysia and fraudulent property transactions have long been a way to corruptly transfer property assets without fair payment for the property.
Proposal of Solution:
There needs to be
a. a regulatory requirement for all elected representatives to declare property [and other] assets owned by them and their family
b. strict enforcement of this requirement for declaration of assets, as well as a requirement to show the source of funds for the property ownership
c. in the event that the source of funds is not clearly demonstrated, a route enabling legal confiscation of the property to the state should be put in place
Isu dan Polisi Semasa:
Nilai-nilai dan Kepercayaan: