Corruption and its preventative measures by Rithik Appachi https://padlet.com/rithik1580/uqts2kruuoe2ht3l RITHIK APPACHI 12 SCI I, TEACHER IN CHARGE : MRS VISHWATI (MEP) en-us 2020-06-30 17:29:35 UTC 2020-06-30 18:19:10 UTC hello@padlet.com https://padlet.net/icons/png/1f4b5.png WHAT IS CORRUPTION rithik1580 https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644208275 We define corruption as the abuse of entrusted power for private gain and the acquisition of illicit benefit.


]]> 2020-06-30 17:34:57 UTC https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644208275 FORMS OF CORRRUPTION rithik1580 https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644210058
  • public servants demanding or taking money or favours in exchange for services,
  • politicians misusing public money or granting public jobs or contracts to their sponsors, friends and families,
  • corporations bribing officials to get lucrative deals

    • ]]>     2020-06-30 17:36:59 UTC https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644210058     COSTS OF CORRUPTION rithik1580 https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644212543 Corruption is considered highly unethical, mainly because it negatively affects many other people and erodes the fair playing field, to provide unfair advantages to few.
    The underlying costs involved with corruption are:
    1.Political costs : Your freedom and rule of law.
    2.Social costs : Your participation and even your trust in government.
    3.Environmental costs : Your chance for a healthy environment and a sustainable future.
    4.Economic costs : Your opportunity to build and grow wealth.]]>     2020-06-30 17:40:08 UTC https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644212543     EXAMPLES OF CORRUPT ACTS rithik1580 https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644216808 Now we will look at a few high profile examples of corrupt acts, in an attempt to draw conclusions and learn from them

    ]]>     2020-06-30 17:45:08 UTC https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644216808     CASE 1 : THE PANAMA PAPERS rithik1580 https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644218304 Following a huge leak from the Panamanian law firm, Mossack Fonseca, the Panama Papers exposed the darkest secrets of the financial secrecy industry. The Panama Papers showed that Mossack Fonseca created 214,000 shell companies for individuals who wanted to keep their identities hidden. Behind the shell companies hid at least 140 politicians and public officials, including 12 government leaders and 33 individuals or companies who were blacklisted or on sanction lists by the United States government for offences like trafficking and terrorism.

    Since the scandal erupted, several heads of government have resigned or faced prosecution, at least 82 countries launched formal investigations and Mossack Fonseca closed. As a result of the Panama Papers, several countries committed to ending financial secrecy, with at least 16 countries or international bodies achieving at least one substantial reform and approximately 23 countries recovering at least US$1.2 billion in taxes.

    ]]>     2020-06-30 17:47:01 UTC https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644218304     CASE 2 : SIEMENS, GERMANY, AND BRIBES rithik1580 https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644219067 certain bribes paid abroad were technically tax deductible for German companies until 1999? They could simply categorise them as “useful expenditures”, as long as those expenses were not incurred in Germany and there were no foreign state officials involved.

    In 2006, however, it became clear that Siemens, one of Germany’s biggest companies, was taking corporate bribery to a whole new level. For over a decade, it paid bribes to government officials and civil servants around the world, amounting to approximately US$1.4 billion. While corrupt decision makers profited, citizens in the affected countries paid the costs of overpriced necessities such as roads and power plants.

    The company’s transactions eventually caught the interest of authorities in several countries, including the US and Germany, which launched investigations and ultimately secured a historic sanction of US$1.6 billion.]]>     2020-06-30 17:48:00 UTC https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644219067     CASE 3 : PARADISE OF MALDIVES rithik1580 https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644220488 In the Maldives, tourism is the largest contributor to the economy – it’s where the money is. So it should come as no surprise that the country’s biggest corruption scandal is also linked to tourism. In 2016, Al Jazeera revealed that approximately US$1.5 billion was laundered through fake tourism investments in a scheme of astounding simplicity.

    The money was allegedly transported to the Maldives in cash, approved by the financial authority and transferred to private companies, where it appeared as clean profits from tourism investments.

    ]]>     2020-06-30 17:49:38 UTC https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644220488     CASE 4 : FIFA : PLAYING MORE THAN FOOTBALL rithik1580 https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644222975 The indictments on 27 May 2015 of nine current and former Fédération Internationale de Football Association (FIFA) officials on charges of racketeering and money-laundering changed the sporting landscape overnight. Suddenly a system of “rampant, systemic and deep-rooted corruption” was brought starkly into global focus.

    The surprising re-election of FIFA president, Sepp Blatter, who presided over a culture of impunity, exposed just how much football exists in a parallel universe without accountability. It is easy to understand why public trust in FIFA fell to an all-time low.]]>     2020-06-30 17:52:51 UTC https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644222975     HOW DO WE COMBAT CORRUPTION? rithik1580 https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644229131 Now that we have observed a few high profile, global level occurrences of corruption, we will now go through some methods to curb it
    There is no silver bullet for fighting corruption. Many countries have made significant progress in curbing corruption, however practitioners are always on the lookout for solutions and evidence of impact. Here are five ways that citizens and governments can make progress in the fight against corruption:]]>     2020-06-30 18:00:16 UTC https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644229131     METHOD 1 : END IMPUNITY rithik1580 https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644232578 2020-06-30 18:04:23 UTC https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644232578 METHOD 2 : REFORMATION rithik1580 https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644233335 Reforms focussing on improving financial management and strengthening the role of auditing agencies have in many countries achieved greater impact than public sector reforms on curbing corruption.

    One such reform is the disclosure of budget information, which prevents waste and misappropriation of resources. 

    ]]>     2020-06-30 18:05:20 UTC https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644233335     METHOD 3 : PROMOTING TRANSPARENCY rithik1580 https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644234564 Countries successful at curbing corruption have a long tradition of government openness, freedom of the press, transparency and access to information. Access to information increases the responsiveness of government bodies, while simultaneously having a positive effect on the levels of public participation in a country.]]> 2020-06-30 18:06:56 UTC https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644234564 METHOD 4 : PUBLIC EMPOWERMENT rithik1580 https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644235444 Strengthening citizens demand for anti-corruption and empowering them to hold government accountable is a sustainable approach that helps to build trust between citizens and government. For example, community based monitoring initiatives have in many cases have contributed to the detection of corruption, reduced unnecessary leakages of funds, and improved the quantity and quality of public services.]]> 2020-06-30 18:08:04 UTC https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644235444 METHOD 5 : MENDING INTERNATIONAL LOOP HOLES rithik1580 https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644236782 Without access to the international financial system, corrupt public officials throughout the world would not be able to launder and hide the proceeds of looted state assets. Major financial centres urgently need to put in place ways to stop their banks and cooperating offshore financial centres from absorbing illicit flows of money.

    The European Union recently approved the 4th Anti-Money Laundering Directive, which requires EU member-states to create registers of the beneficial owners of companies established within their borders. However, the directive does not require these registers to be made public.

    ]]>     2020-06-30 18:09:37 UTC https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644236782     CONCLUSION rithik1580 https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644237545 Corruption continues to be a problem faced by all types of nations, be it developed, developing or under-developed. Millions of people have been in the receiving end of corrupt activities, leading to loss of livelihood, and in many cases, lives. 
    There is no easy fix for corruption. The resolution of a problem of such magnitude, requires concerted efforts by every single person. Although corruption is thought to be done by politicians and business moguls alone, this is not exactly the case since many common people also indulge in it. In addition to us people stopping corruption themselves, we need to use our constitutional rights to avoid corruption. ]]>     2020-06-30 18:10:38 UTC https://padlet.com/rithik1580/uqts2kruuoe2ht3l/wish/644237545