Malaysia will leverage Blockchain and Artificial Intelligence to tackle corruption and fraud in the digital age.
Speaking at the 3rd International Conference on Technology, Humanities, and Management held in Maldives, Tan Sri Azam, chief commissioner of the Malaysian Anti-Corruption Commission, highlighted that technological advancements have introduced new challenges in combating crime, local media reported on Jan 30.
As such, MACC is integrating AI and blockchain into its investigations to combat. According to Azam, while these technologies have enabled more sophisticated crimes, they also offer powerful tools to trace illicit activities and strengthen anti-corruption efforts.
Azam pointed to AI’s ability to enhance data analysis and fraud detection, allowing MACC to uncover financial irregularities that might otherwise go unnoticed. Blockchain, he noted, ensures “immutable transaction records,” making it harder for bad actors to manipulate financial data.
The MACC is an independent government agency in Malaysia responsible for investigating and prosecuting corruption in both the public and private sectors. Using the new tools, MACC will monitor key sectors, including law enforcement, public procurement, financial transactions, and subsidy distributions, where corruption risks are high.
Azam added that the development aligns with the commission’s goal of enhancing transparency, integrity, and accountability across various sectors.
Blockchain-based solutions have long been touted as a tool to combat corruption. Officials at Ukraine’s Ministry of Digital Transformation, for instance, have previously acknowledged that the technology can help protect state records and reduce corruption in oversight bodies.
Malaysia’a blockchain and crypto plans
Meanwhile, the development comes as part of a broader push by the Malaysian government to embrace blockchain and digital innovation.
According to the country’s blockchain roadmap issued by the Ministry of Science, Technology, and Innovation, the government has outlined 20 strategic initiatives and 10 core programs to integrate blockchain into public services and other areas.
Such efforts have been reflected across recent partnerships, including one involving Sam Altman’s World Network (formerly Worldcoin). MIMOS Berhad, the Malaysian government’s research arm, has inked a memorandum of understanding with the Worldcoin Foundation, Tools for Humanity, and MyEG to integrate Worldcoin’s biometrics technology into Malaysian infrastructure.
Beyond blockchain, lawmakers have also shown interest in positioning Malaysia as a key player in the global digital economy.
As previously reported by crypto.news, Anwar Ibrahim, the country’s prime minister, underscored this ambition following a meeting with the Abu Dhabi government and Binance co-founder Changpeng “CZ” Zhao, articulating that Malaysia must develop policies for cryptocurrency and blockchain to ensure the nation “does not get left behind.”
Read the full article here