Description:There is no silver bullet for combating corruption. Many countries have made significant progress in combating corruption, but practitioners are always looking for solutions and evidence of impact. Here are five ways to control on corruption:
1. By... moreThere is no silver bullet for combating corruption. Many countries have made significant progress in combating corruption, but practitioners are always looking for solutions and evidence of impact. Here are five ways to control on corruption:
1. By Law
The most effective solution is the enactment of laws that regulate money laundering, hide and tax evasion. But, given the nature of power politics, governments often lose their will to fight corruption due to special interests and conflicting political agendas.
Therefore, it is critical that independent oversight bodies monitor compliance and that laws be changed or added to prevent the illicit use of funds and assets. This can be done by:
1. Strengthening the autonomy of financial regulators to prosecute bank fraud and financial crimes, regardless of political connections.
2. Instituting independent and transparent control over law enforcement
3. Introducing and reinforcing existing laws for beneficial ownership and asset declarations.
4. Building up local anti-corruption capabilities and increasing the use of public information.
5. Incorporating government commitments to combating corruption into legislation.
2. By Media
Media has become an important tool for fighting corruption, as it provides a megaphone for citizens to bring concerns to light.
For example, "Stop Bribery" newspaper will be launched by leading development NGOs in Africa this month. The newspaper will carry stories on corrupt deals, corruption in the media and a platform to raise awareness on how citizens can take action to stop corruption.
3. By Business Leaders
The most successful people in business in Africa understand the problem of corruption and are making efforts to develop solutions. By doing so, they send a message to other business leaders, government decision makers and their counterparts in politics that business leaders are committed to fighting corruption and are looking for solutions.
The African Leadership Network for Anti-Corruption, which was initiated in January 2017, brings together top business leaders from the public and private sector to form a network and share knowledge on best practice on tackling corruption.
4. By Civil Society
If all stakeholders join forces, there is the potential for real progress in addressing corruption. Civil society, community and civic organizations can work with business leaders and governments to develop solutions. It is crucial to involve them in policy development and evidence-based policy implementation.
Indeed, one of the strongest drivers of corruption in developing countries is secrecy – especially in the property sector. For this reason, we advocate the involvement of NGOs in economic crime fighting. For example, African countries should introduce measures that make it easier to trace corrupt assets through land and other property. This would help to cut down on asset forfeitures and help track down perpetrators.
5. By Legislators
The legal aspects of corruption are important. It is imperative that countries strengthen legal protections and create the right framework to deal with corruption and money laundering. African countries need to adopt or amend the following laws:
• Anti-Money Laundering Act (ACMA), which was adopted in 2004 but has not been amended.
• Federal Anti-Corruption Commission Act, which is an integral part of our national legal framework and has been amended several times.
• Banking Act, Financial Intelligence Act, Fraud and Anti-Money Laundering Act, the Mutual Assistance in Criminal Matters Act and Economic Crime Act.
Although there has been progress in these laws, they remain far from effective in dealing with crimes such as money laundering and the financing of terrorism. They must be updated to reflect new financial instruments and activities such as crypto currencies, crypto-currencies and smart contracts. less
