Business Daily Media

The Times Real Estate

.

The National Anti-Corruption Commission Thailand Alerts Investors to Risks of Gratuity Offerings as Potential Bribery

BANGKOK, THAILAND - Media OutReach Newswire - 26 February 2024 - The National Anti-Corruption Commission (NACC) has issued a formal advisory to both local and international investors regarding the practice of offering gratuities to government officials, which may constitute bribery and is subject to legal penalties under the latest anti-corruption regulations.



The NACC's Secretary-General, Mr. Niwatchai Kasemmongkol, emphasized that the regulatory framework established in 2020 includes criminal penalties for such offenses. According to Section 128 of the regulation, any public official accepting a bribe could face up to three years of imprisonment, a fine not exceeding 60,000 baht or both.

In efforts to uphold ethical conduct, the NACC has notified all parties of the Code of Ethics which governs the reception of gifts or benefits by government officials. The code aims to prevent the masking of bribes as gratuities, a practice that is identified as a seedbed for bribery and corruption, posing significant hurdles to national development and contravening legal standards.

This warning aligns with the stance of Transparency International (TI), which categorizes bribery as a form of corruption that must be eradicated. TI describes gratuities as promises of money or other advantages to officials or organizations as a quid pro quo for favorable treatment.

Mr. Niwatchai acknowledged that the challenge of gratuities is not unique to Thailand but is also prevalent in other developing nations where such practices have traditionally been used to repay favors or cultivate relationships, potentially leading to corruption within the government sector.

However, the NACC clarifies that certain exceptions exist where the receipt of gifts or benefits by officials is permissible, provided it adheres to the ethical criteria and limits set by the NACC. These exceptions include salaries, allowances, dividends, and customary gifts of nominal value given on special occasions.

In instances where assets valued over 3,000 baht are received under compelling circumstances, officials are mandated to report to the highest executive authority within their agency for approval within 30 days.

The NACC further explained that bribing behaviors encapsulate a range of actions from offering money for favorable services, facilitating school admissions, and avoiding legal prosecution, to illicit financial interactions with contractors.

The Commission emphasizes that these guidelines are part of a broader strategy to combat corruption. Effective law enforcement must be complemented by a cultural shift towards increased awareness and behavior change, distinguishing personal from public interest, and ultimately fostering a culture of integrity within Thai society.

For reporting any corrupt activities by government officials, the NACC encourages whistleblowers to contact the NACC Office at Tel. 1205 or visit their website at www.nacc.go.th.

Hashtag: #IntegrityWay #AntiCorruption #ZeroCorruption #NACC #NACF


The issuer is solely responsible for the content of this announcement.

National Anti-Corruption Commission (NACC)

The National Anti-Corruption Commission (NACC) is a constitutional independent organization supervised by nine commissioners selected from various professions. It is authorized to undertake work on the prevention and suppression of malfeasance, particularly in government agencies, on assets investigations, as well as on the monitoring of ethics and virtues of political position holders.

It has the authority to file charges in court as well as support and build up awareness of the penalties for committing corruption. The NACC is supervised by the NACC Board and has the Office of the NACC as its administrative agency.

Since 1997, Thai Courts have ruled against and punished politicians, former ministers, high-ranking government officials as well as executives of the private sector in the thousands of cases submitted by the NACC.

News from Asia

Schneider Electric named The World’s Most Sustainable Corporation for a second time

First-ever corporation to top Corporate Knights Global 100 twice 14th consecutive year in Global 100 index, 7th top 10 ranking Follows strong 2024 performance in other k...

A New Year, A New Beginning LANDMARK Welcomes the Year of the Snake with Nicolai Bergmann's Flourishing Blooms

HONG KONG SAR - Media OutReach Newswire - 24 January 2025 - To honour the spirit of the Lunar New Year, LANDMARK presents Flourishing Blooms, a vibrant celebration of artistry and tradition by in...

KPMG: Slower than expected interest rate cuts to support bank margins in 2025

Banks should prioritise cost optimisation, data governance, and digital transformation to build a foundation for long-term growth HONG KONG SAR - Media OutReach Newswire - 24 January 2025 – Hong K...

Hong Kong Wraps Up Valuable Participation at WEF Annual Meeting

HONG KONG SAR - Media OutReach Newswire - 24 January 2025 - Financial Secretary of the Hong Kong Special Administrative Region (SAR), Paul Chan, wrapped up his participation at the World Economic ...

First female pilot in China’s Xizang (Tibet): Breaking boundaries in a male-dominated sector

BEIJING, CHINA - Media OutReach Newswire - 4 January 2025 - A large number of Chinese women are breaking the glass ceiling to enter professions that were previously dominated by men...

JustMarkets Launched a Lunar Contest with Fantastic Prizes

JAKARTA, INDONESIA - Media OutReach Newswire - 27 January 2025 - As the festive season of Lunar New Year approaches, JustMarkets invites traders in Indonesia and Malaysia to celebrate with exciti...

Tropical Hainan Island, China: Tourist's Paradise Filled with Sunshine, Hospitality

HAIKOU, CHINA - Media OutReach Newswire - 24 January 2025 - Recently, the Hainan Free Trade Port in southern China has launched various events featuring intangible cultural heritage to celebrate t...

Dou Yee Enterprises Partners with BIOVIA to provide LIMS and ELN Software Solutions in Southeast Asia

SINGAPORE - Media OutReach Newswire - 27 January 2025 - Dou Yee Enterprises, a prominent global player in high-tech manufacturing and precision engineering, has entered into a strategic partnershi...

Tourism Promotions Board (TPB) Philippines celebrates milestones, thanks media and content creators at annual Pasasalamat event

2024 was a groundbreaking year of achievements for Philippine tourism promotions MANILA, PHILIPPINES - Media OutReach Newswire - 27 January 2025 - The Tourism Promotions Board (TPB) Philippines ki...

ONYX Hospitality Group Expands the Amari Brand with Exciting New Openings Across Sri Lanka, Laos, and Thailand

BANGKOK, THAILAND - Media OutReach Newswire - 28 January 2025 - ONYX Hospitality Group, Thailand's leading hospitality management company, is delighted to announce the opening of its latest prope...

Global talent: Unlocking the potential of the ‘Everywhere Workforce’

We’ve reached a defining moment in the future of work. Shifts in business demands, evolving employee expectations and the acceleration of tech inn...

Mark Bouris’ Top Tips for Effective Networking

As Boa App Introduces ‘Chapters’ for Australian Business owners A vocal champion of the power of networking, renowned businessman Mark Bouris is ...

Retailers combat post-Christmas debt and boost revenue amid changing customer behaviours

As the festive season wraps up, Australian retailers and companies are shifting their focus from holiday sales to addressing the challenges of pos...

When Will Infrastructure Companies See Gains from Generative AI?

A lot of questions are swirling about the state of generative AI right now. How far along are companies with their bespoke GenAI efforts? Are orga...

DLPA partners with Crestcom to bring its leadership training solutions

Dynamic Leadership Programs Australia (DLPA), a leading provider of leadership training and workforce strategy solutions, has joined forces with r...

Infosys and Tennis Australia Create New Generative AI Innovations at the Australian Open 2025

Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, in partnership with Tennis Australia, has unv...

Sell by LayBy