Corruption

Display of dishonest behaviour or blatant abuse of power symbolizes corruption. A person going against the law to favour someone or to get benefit for himself would be categorized as corrupt. Developing countries lose billions of dollars in corruption every single day. Corruption is one of the most burning issues in developing countries. Corruption and corrupt practices lead to incompetence, unemployment, poverty, crime, and terrorism.

 

The different forms of corruption include bribery, kickbacks, money laundering, and tax evasion. Bribery is the leading form of corruption in our society. People in the position of influence indulge in financial corruption for the sake of personal gains. It damages merit and justice, and encourages inefficiency and oppression.

 

Depleting the treasury and wangling the taxpayers’ money causes inflation. The prices of household items go sky-high and out of the reach of poor people. The poor go beneath the poverty line. When the government fails to collect the targeted amount of tax, it has to turn to international bodies for loans. This money is given under strict conditions, which puts more pressure on the downtrodden class.

 

Corruption at a massive scale gives rise to money laundering. Transfer of illegal money from one country to another country illegally is known as money laundering. Many developed countries have provided safe havens for the people involved in money laundering. This money is then used to finance the terrorist organizations operating in various parts of the world. These organizations kill thousands of innocent people every year. Many countries are involved in proxy wars to protect their interests in their respective regions.

 

The menace of corruption puts a country on a downhill course. Many countries are joining hands to curb corruption and money laundering. There are international and local watchdogs to have a strict eye over embezzlement of public funds. These task forces are actively monitoring the situation in countries ranking high in corruption. They assist the governments in policymaking and implementation.

 

Corruption can be only eliminated by introducing draconian measures for the guilty. As corruption is a curator of many evils damaging the whole society, it must be eliminated through spreading awareness and strengthening the criminal justice system.

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