In “The Malaysian Corporate Secretary Journal : Money Laundering Revisited”, Lee Leok Soon argues against our company secretarial is a practitioners which are essentially seen as a value added-on services to the whole process. As degree freshmen, we must say we find Mr. Lee’s views compelling, intelligent, and—perhaps most importantly—well worth heeding.
Lee’s use phrases like “value added-on”, “responsibilities” and “services” in the first paragraph all accurately describe the company secretarial practitioners. His first point states that company secretaries would identify and satisfy the needs of clients with their responsibilities and services developed for that purpose, and are much obliged to pay pro-active attention to compliance and client relationship. What Lee’s say are true, every company secretaries should practices to be more professional.
Many designated business services has been constantly evolving amid this era of regulations and compliance regime. We know that the Malaysia business environment is typically beset with rules ,regulations and procedures which often tend to inhibit innovation. It is no doubt because the business environment is facing with the commercial realities of competition, changes, innovation and governance. Obviously in this challenging predicament had given the country well-designated approach to effectively counter violations of “everyday crimes” such as money laundering. This is true too, though we argue that many parties have to play their own role in this issues but Lee’s argues that company secretarial practitioners should be caution not to fall into the trap of money laundering. Company secretaries are advised to be passion with their job. In at least this respect, Lee could have noted the shared responsibility.
Lee’s highlight seven key points which company secretaries and company secretarial practitioners should beware about money laundering. Firstly, Lee state that company secretaries should know laws...