Entries by Corruption Watch

CORRUPTION GLOSSARY – O

19th August 2022 in /by

OFFSHORE FINANCIAL CENTRE – provides tax and regulatory privileges, generally to companies, trusts and bank account holders on condition that they do not conduct active business within that jurisdiction. These […]

CORRUPTION GLOSSARY – N

19th August 2022 in /by

NARCOKLEPTOCRACY – narco-: pertaining to narcotics or their trade and use, and kleptocracy: corrupt and dishonest government which steals from state coffers. Therefore, rule by drug lords. A system of […]

CORRUPTION GLOSSARY – M

19th August 2022 in /by

MERITOCRACY – a political system in which economic goods and/or political power are vested in individuals, based on ability, talent, effort, and achievement, rather than wealth or social class. Advancement […]

CORRUPTION GLOSSARY – K

19th August 2022 in /by

KAKISTOCRACY – a government run by the most unscrupulous or least qualified people. The term is derived from two Greek words, kakistos (κάκιστος; worst) and kratos (κράτος; rule), literally meaning […]

CORRUPTION GLOSSARY – I

19th August 2022 in /by

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. The sources of the […]

CORRUPTION GLOSSARY – G

19th August 2022 in /by

GIFT GIVING – a cultural practice in many societies, by which people offer presents and favours in various circumstances according to local customs. Problems arise when gift giving to and […]

CORRUPTION GLOSSARY – F

19th August 2022 in /by

FACILITATION PAYMENTS – these are bribes, also called facilitating, speed or grease payments. They’re made to secure or expedite the performance of a routine or necessary action to which the […]

CORRUPTION GLOSSARY – E

19th August 2022 in /by

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 […]