Thesis Abstract

Abstract
Corruption, economic, and financial crimes in the public sector pose significant challenges to the economic development and governance of countries worldwide. This research project aims to explore the extent of corruption and financial crimes in the public sector, focusing on the impact on economic growth, public trust, and government effectiveness. The study will examine the various forms of corruption prevalent in the public sector, including embezzlement, bribery, kickbacks, and money laundering. Furthermore, the research will investigate the underlying causes and drivers of corruption in the public sector, such as weak institutional frameworks, lack of transparency, political interference, and inadequate enforcement of anti-corruption laws. By analyzing case studies and empirical data, the study aims to provide insights into the mechanisms through which corruption and financial crimes undermine economic development and erode public trust in government institutions. Moreover, the research will explore the consequences of corruption and financial crimes on public services delivery, investment climate, and overall economic performance. It will also assess the effectiveness of existing anti-corruption measures and initiatives in combating corruption in the public sector. The study will highlight best practices and policy recommendations to enhance transparency, accountability, and integrity in the public sector. The findings of this research will contribute to the existing literature on corruption and financial crimes in the public sector and provide valuable insights for policymakers, government officials, and anti-corruption agencies. By understanding the root causes and consequences of corruption, stakeholders can design more effective strategies and interventions to prevent and combat corruption in the public sector. In conclusion, corruption, economic, and financial crimes in the public sector have far-reaching implications for governance, economic development, and social cohesion. Addressing these challenges requires a comprehensive and multi-dimensional approach that combines legal reforms, institutional strengthening, public awareness campaigns, and international cooperation. By tackling corruption and financial crimes effectively, countries can promote sustainable development, strengthen the rule of law, and restore public trust in government institutions.

Thesis Overview

INTRODUCTION

1.1 STUDY BACKGROUND

Economic 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).