Corruption Definition: Abuse of public resources or entrusted power for private gain.
Forms of corruption
Bribery, money laundering, fraud, embezzlement, nepotism, conflict of interest, fronting, kickbacks, and so on…
Blow the whistle on corruption
- Report on corruption anonymously. Click on the link here ⇒ Blow the whistle on corruption. (Fill in the form and we will get back to your shortly.)
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Consequences of corruption
The fact of the matter is that corruption has been prevalent in all parts of the world since the birth of humanity. Despite corruption being a human condition, we need to constantly and actively tackle corruption issues if we are to make headway towards a more ethical way of interacting and doing business.
- Corruption destroys honesty, loyalty, undermines moral integrity and chips off chunks of self esteem. One misdemeanor usually leads to another, and soon the individual is in over their head.
- Corruption creates unstable governments, sets countries back economically, and undermines democracy.
- Money is stolen in corrupt tenders, by councillors and officials directly, or by companies that accept payment and don’t do the work. This is money that should be spent on services and upgrading communities. It can include corrupt practices such as kickbacks or bribes, or failure to follow proper tendering. www.localgovernmentaction.org
Stats on corruption
Economic Governance: Africa Governance report – United Nations economic commission – www.uneca.org
- South Africa is 72nd out of 177 countries in Africa in terms of corruption index.
- 43% of fraudulent activity in the workplace is uncovered by employees themselves.
- Between 1995 – 2014 there were 1080 cases of cross-border corruption in Africa. 1075 firms (99.5%) involved were non-African firms.
- Organizations lose 5% of revenue due to fraud alone.
- Trillions are lost globally due to fraud.
The biggest challenge is that one cannot measure what is hidden, so many corruption situations go unchallenged.
Reference
Corruption Synonyms: (thesaurus.com)
Dishonesty, bribery, crime, exploitation, extortion, fraud, nepotism, crookedness, demoralization, misrepresentation, payoff, racket, shadiness, skimming, squeeze, unscrupulousness, breach of trust, bribing, fiddling, on the take, profiteering.
Links to other related pages on the Genius Within Site
- Whistle blowing on crime
- Accident Reporting
- Grievance Platform
- Report Potential Threats
- Risk Management
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