Even paying a “dowry” can be seen as part of a corrupt system. But, in the twenty-first century, we cannot turn our backs to such practices, as one form of corruption leads to another. Corruption is bad for the economy, undermines ethical standards, and has a wide-ranging impact on society. Indeed, it is a crime in many countries. Regrettably, while over 120 countries are members of, and signatories to, the International Association of Anti-Corruption Authorities (IAACA) that was formed in 2006, the necessary political will, administrative and legal mechanisms, and supporting institutional structures to address corruption, are weak or non-existent in most countries. In this article, I will focus on economic and financial crimes and how to systematically wage a war against such crimes.
Before I proceed further, it helps to know that various governments, international and regional institutions, policy bodies and non-governmental organisations have been actively engaged in a variety of anti-corruption initiatives. For example, the Commonwealth Africa Anti-Corruption Centre (CAACC) was established in February 2013 in Gaborone, Botswana, with the help of the Commonwealth Secretariat. Partners in this endeavour include the Government of Botswana and the Association of Anti-Corruption Agencies in Commonwealth Africa and The Commonwealth (AACACAC; see Guiding Principles and Implementation Measures that I have outlined below). Similar regional bodies have been set up elsewhere in the world. So how does a country tackle economic and financial crimes? Here are a set of:
