Corruption is an unconscionable advantage, profit, or gain through the abuse of authority and power (Ubani 2016). Corruption will never be combated and we need change this paradigm to meet today's social acceptable terms and language to apply in management of corruption. CRIMINAL FORFEITURE – following a criminal conviction, criminal forfeiture refers to the confiscation by the state of proceeds of a crime for which a conviction has been recorded. ILLICIT FINANCIAL FLOWS – this generally involves the cross-border transfer of money earned through illegal activities, and efforts to shelter wealth from a country’s tax authorities. KNOW YOUR CUSTOMER (KYC) – describes a set of anti-money laundering measures normally mandated by law which are employed by banks and other financial services to document the true identity of a customer/client and his or her source of wealth to make sure it is legitimate. Five years after the FBI began investigating corruption in the leadership ranks of the United Auto Workers union, the U.S. Justice Department and the union have agreed to a consent order that places the union under the oversight of an independent monitor. COMPLIANCE – the procedures, systems or departments within public agencies or companies that ensure all legal, operational and financial activities are in conformity with current laws, rules, norms, regulations, standards and public expectations. It's free and takes five seconds. These individuals often require protection from those they expose. Uncontrolled corruption is generally considered more harmful for a country’s economy, although controlled corruption also can have harmful economic effects in the long-term. Bank secrecy makes laundered money particularly hard to trace. SOLICITATION – the act of a person asking, ordering or enticing someone else to commit bribery or another crime. It is not crippling, but it can seriously undermine morale and sap the economy of resources. Sign up. See more. Systemic corruption is not a special category of corrupt practice, but rather a situation in which the major institutions and processes of the state are routinely dominated and used by corrupt individuals and groups, and in which most people have no alternatives to dealing with corrupt officials. ETHICS – moral principles that govern the behaviour of people in government, companies and society, or the way they conduct activities. The individual who receives the bribe often demanded it in the first place. Good governance is characterised as being participatory, accountable, transparent, efficient, responsive and inclusive, respecting the rule of law and minimising opportunities for corruption. Embraced by individuals as well as institutions, it creates a barrier to corruption. Among the more well-known former kleptocrats we can list Duvalier (‘Papa Doc’) of Haiti, Mobutu of Zaïre, Bokassa of the Central African Republic, and Suharto of Indonesia. Transparency is therefore considered an essential element of accountable governance, leading to improved resource allocation, enhanced efficiency, and better prospects for economic growth in general. Corruption Watch (RF) NPC is an accredited Chapter of Transparency International e.V..
Six U.S. Oil Executives Are Convicted of Corruption in Venezuela The so-called Citgo 6, who had been lured to Venezuela three years ago for a business meeting, were immediately sentenced to … Follow the latest investigations on corruption in South Africa. GRAFT – the verb refers to the obtaining of money dishonestly by exploiting one’s position of power, especially political power. Your cronyism from your collusion? Protected disclosures are made internally in the organisation, or to an ombudsman or someone with the power to prevent retaliation against the discloser. Active bribery occurs on the supply side, passive bribery on the demand side. Computer, transmission, and storage systems use a number of measures to provide end-to-end data integrity, or lack of errors.. Transparency International. Fraud & corruption - related words and phrases | Cambridge SMART Vocabulary BRIBERY – the act of offering someone money, services or other valuables, in order to persuade him or her to do something in return. OVERSIGHT – the process of independently monitoring and investigating, internally or externally, the operations and activities of a government agency, company or civil society organisation to ensure accountability and efficient use of resources. The term can also be applied to companies and NGOs. In countries with uncontrolled corruption, corruption tends to be more common and unpredictable. Auditing institutions can be considered the taxpayers’ independent and professional watchdogs. BENEFICIAL OWNERSHIP SECRECY – a beneficial owner is the real person who ultimately owns, controls or benefits from a company or trust fund and the income it generates. What is an allegation? Such an approach examines all institutions and practices within a given country that are relevant to maintaining honest government and private sector institutions. For example, a public official may promise to use his or her real or supposed influence to the benefit of another person in exchange for money or other favours. This page provides the latest reported value for - New Zealand Corruption Rank - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Corruption definition, the act of corrupting or state of being corrupt. In other words, bribery is only one form of corruption. Graft is understood as political corruption with an element of greediness. COLLUSION – a secret agreement between parties, in the public and/or private sector, to conspire to commit actions aimed to deceive or commit fraud with the objective of illicit financial gain. Proving intention is difficult; therefore the dividing line between avoidance and evasion is often unclear. (updated April 25, 2012). Corruption can include giving or accepting … Under Mr. Trump, it now stands as both a monument to and a tool for advancing the endless spectacle of self-dealing and corruption that has … A vocabulary list featuring 100 words associated with political scandal. Corruption is generally defined as the use or abuse of public office for private gain. From an economic perspective, undesirable consequences of corruption involve increases in the costs of legal dealings and distributional concerns associated with favoring haves over have-nots. EMBEZZLEMENT – when a person holding office in an institution, organisation or company dishonestly and illegally appropriates, uses or traffics the funds and goods they have been entrusted with for personal enrichment or other activities. On a global level, we see more and more countries promulgating new and more sophisticated anti-bribery and corruption legislation as well as aggressive enforcement by government regulators. FAKELAKI – this Greek term is close to the notion of ‘tip’ in meaning, but at the same time it may refer to specific tariffs demanded by government officials in order to bypass procedure. LOS ANGELES -- Federal authorities announced new charges and additional defendants Monday in a wide-ranging corruption case against a Los Angeles city councilman and his alleged associates. Another word for corruption. These jurisdictions ensure that the identity of those relocating their money through them cannot be disclosed. SHELL COMPANY – a limited liability entity having no physical presence in their jurisdiction, no employees and no commercial activity. Corruption has a negative effect on domestic investment and tax revenues. the act of examining something closely, as for mistakes, LONDON — With a political firestorm cascading over the British government’s ties to his media empire, Rupert Murdoch faced rare public, draw someone's attention away from something, LONDON — With a political firestorm cascading over the British government’s ties to his media empire, Rupert Murdoch faced rare public scrutiny about his relationships with elected officials on Wednesday, seeking to, His appearance at the so-called Leveson inquiry came a day after, His appearance at the so-called Leveson inquiry came a day after testimony implicated a senior cabinet minister, or at least an aide, His appearance at the so-called Leveson inquiry came a day after testimony implicated a senior cabinet minister, or at least an aide claiming to speak for him, in a, A trove of e-mails, released at the same inquiry on Tuesday, pointed to hand-in-glove, the act of giving up, as a claim or office or possession, But during a raucous and confrontational session of Parliament on Wednesday, Mr. Hunt rejected opposition calls for his, But during a raucous and confrontational session of Parliament on Wednesday, Mr. Hunt rejected opposition calls for his resignation and, He also assailed the Labour opposition over its own ties to Mr. Murdoch, particularly those of former Prime Minister Tony Blair, underscoring the importance that successive British administrations have attached to securing the, He also assailed the Labour opposition over its own ties to Mr. Murdoch, particularly those of former Prime Minister Tony Blair, underscoring the importance that successive British administrations have attached to securing the endorsement of Mr. Murdoch’s tabloid daily, The Sun, for their electoral, the general progression or course of one's professional life, The BSkyB deal, which would have crowned Mr. Murdoch’s 60-year media, The BSkyB deal, which would have crowned Mr. Murdoch’s 60-year media career, was scuttled last year as the, The BSkyB deal, which would have crowned Mr. Murdoch’s 60-year media career, was scuttled last year as the scandal over, Much of the questioning centered on meetings with British political leaders and the pledges Mr. Murdoch had made not to, declare to be true or admit the existence or reality of, “I don’t know many politicians,” he said, on one of many occasions on which he denied, something that aids or promotes well-being, “I don’t know many politicians,” he said, on one of many occasions on which he denied allegations from Mr. Jay that his newspapers supported politicians whose policies might offer him some commercial, difficult to detect or grasp by the mind or analyze, As to suggestions that his power might be more, easily perceived by the senses or grasped by the mind, As to suggestions that his power might be more subtle than such, overthrow by argument, evidence, or proof, The Murdoch newspapers in Britain also include The Sun and the now defunct News of the World, a Sunday tabloid, which Mr. Murdoch closed last July as it, a very wealthy or powerful businessperson, avoid or try to avoid fulfilling, answering, or performing, an undivided or unbroken completeness with nothing wanting, Mr. Hunt, the beleaguered minister, insisted to reporters on Wednesday that he behaved “scrupulously fairly” and “with total, a feeling of trust in someone or something, Prime Minister David Cameron said on Tuesday that he had “full, an exclusive circle of people with a common purpose, Mr. Murdoch has been in London since last Thursday, conferring with a, Over the last year, the ever-growing scandal has, Over the last year, the ever-growing scandal has exposed, prohibited by law or by official or accepted rules, Over the last year, the ever-growing scandal has exposed unsavory and sometimes, The network generates billion-dollar annual profits and is increasingly a, influence or control shrewdly or deviously, Mr. Smith’s e-mails depict Mr. Hunt as an avid supporter of the BSkyB takeover and ready, in effect, to, ingratiate oneself to; often with insincere behavior, Speaking at Prime Minister's Questions, the Prime Minister said: "I think hand on heart, we all did a bit too much cosying up to Rupert Murdoch." 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