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Corruption, economic and financial crimes in the public sector

 

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Thesis Abstract

Abstract
Corruption, economic, and financial crimes have been longstanding issues in the public sector across various countries, posing significant challenges to economic development, governance, and societal well-being. This research aims to investigate the intricate dynamics and impacts of corruption and financial crimes within the public sector, focusing on the underlying causes, consequences, and potential mitigation strategies. The study employs a mixed-methods approach, combining quantitative data analysis with qualitative case studies to provide a comprehensive understanding of the multifaceted nature of corruption and financial crimes. Quantitative analysis will involve examining trends in corruption levels, financial losses, and enforcement efforts in the public sector over a specific period. This analysis will be complemented by in-depth case studies of notable corruption scandals and financial crime investigations to elucidate the mechanisms and motivations behind such illicit activities. One of the key objectives of this research is to identify the root causes of corruption and financial crimes in the public sector. By exploring the institutional, cultural, and socio-economic factors that contribute to corrupt practices, the study seeks to uncover systemic weaknesses that enable these offenses to persist. Additionally, the research aims to assess the economic and social impacts of corruption and financial crimes, including reduced public trust, distorted market competition, and diminished government revenue. Furthermore, this study will examine the effectiveness of existing anti-corruption measures and law enforcement strategies in deterring and combating financial crimes in the public sector. By analyzing the strengths and weaknesses of regulatory frameworks, enforcement mechanisms, and international cooperation efforts, the research aims to propose evidence-based recommendations for enhancing anti-corruption initiatives and promoting transparency and accountability in public governance. Overall, this research contributes to the existing body of knowledge on corruption, economic, and financial crimes in the public sector by offering a comprehensive analysis of the underlying issues and potential solutions. By shedding light on the complex interplay between corruption, governance, and economic development, the study aims to inform policymakers, practitioners, and researchers on effective strategies to combat illicit activities and promote integrity and accountability in the public sector.

Thesis Overview

INTRODUCTION1.1 STUDY BACKGROUNDEconomic crime was described as a manifestation of a criminal act done either exclusively or organized with or without employees or groups with the intention of gaining wealth through illegal means, conducting illegal activities that violate laws land and other regulatory statutory provisions governing the economic activities of the government and its administration. It can erode confidence in the system of a country; threaten the integrity of government programs and institutions, compromising security, law and national order. Overall, the overwhelming presence of economic crimes can make a country attractive to investors (Area Information 2006).

Whatever the sophistication of the methods used by the criminals, the common characteristics of crime include cheating, lying and stealing. Corruption is a threat in the public sector, even if discomfort is worldwide, the extent of its scope in the public sector was tragically prodigious. All indicators show that the spread of this cancer had become frightening.The threat of corruption leads to slow the movement of files in offices, police extortion toll and slow traffic on the roads, port congestion, queues at passport offices and stations gasoline, ghost workers syndrome, election irregularities, among others. Even crazy people on the street recognize the devastation caused by corruption – the funds allocated for their welfare disappear into thin air.Corruption is endemic in all governments, and is not suitable for all continents, regions and ethnic groups. Corruption is in the democratic and dictatorial policy; feudal, capitalist and socialist economies. Corrupt practices did not begin today; the story is as old as the world. Ancient civilizations have traces of illegality and corruption. (Lipset and Lenz 2000).The price of corruption is extremely high. The economic foundations, political, social and moral of the country have been severely eroded and degraded. He brought us close to the edge and almost made us helpless and hopeless. It became imperative that something drastic had to be done to stop the rot. This impelled the president’s commitment to the fight against corruption head – on. (ICPC ACT 2000).



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