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Charles Ponzi was the man who made the Ponzi scheme famous, and hence the name. Meanwhile, it was Bernie Madoft who exercised this fraudulent method of earning money for the longest period of time in the market under the very noses of the investors. He managed to profit 65 billion US dollars, all by false stories. A similar scenario is evident in the public offices here in Bangladesh, where money speaks and every tongue remain silent. The officers in such workplaces see bribes as a ‘legal’ part of their earning. Bangladesh could have dealt with poverty and the million other problems it encounters far more easily if these parasitic and corrupt politicians and officials hadn’t stolen the large sum of money reserved for developmental purposes. Just because of…
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Corruption and money go hand in hand. Money is a motivating factor for corruption, and the transfer of money or other special benefits often finances corruption.…
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Frequently when individuals receive great power they tend to act on their own personal immoral needs, and abandon individuals they serve for. Nowadays corruption has been ingrained deeply within society. Corruption is a cancerous agent that once introduced, no matter the medicine or treatment given, it will spread and until it takes a firm hold.…
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Bribery is the act of accepting or offering something of value where the person who accepts the bribe is expected to perform a service which goes beyond his or her normal job description. To be considered a bribe, the object of value must be offered and accepted with the understanding that the person who accepts the bribe will be doing something in return. Managers must also understand the cultural differences of the countries they are doing business in because they can sometimes lead to confusion. In some cultures offering payment for a service may be considered a bribe and in others, a failure to do so would be construed as offensive. For example, in the Middle East they have the concept of baksheesh which is from a Persian word meaning “present” and it is an integral part of daily life. Government employees use baksheesh to support their minimal government income and they are quite open about their requests and will quote customers a direct amount that it will cost to say pass through customs without inspection, get through a heavily controlled border or receive some other service. (What is Baksheesh?)…
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Corruption itself is not something unknown to the world, and it never was. As the years have progressed, the categories of corruption…
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Although today it is difficult to acquire absolute power, political and economic corruption in the form of bribery is one of the most important international issues to be addressed. This phenomenon lacks easy definition because it is rooted in the perversion of the world institutions permeating the global system. However, a basic definition of bribery refers to the offering, giving, soliciting, or receiving of any item of value as a means of influencing the actions of an individual holding a public or legal duty (http://www.law.cornell.edu/wex/bribery).…
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The main idea of this report is to investigate whether it is worth fighting the bribery and what the possible ways of doing that are. The crucial problem here is the briber. Everyday businesses in third world countries and post-soviet countries confront bribery which contains extra payments for the same services or products.…
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Ultimately, corruption has been assisting other corruptions like armed robbery, prostitution, hugger among others in the society. This is so when money meant for the growth of the society is unfocused.…
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Corruption is very widespread in India. It ranks 72 amongst the top most corrupt countries in the world. In India corruption takes the form of bribes, evasion of taxes, misappropriation of funds, and embezzlement amongst others. A study found that more than 50% of the Indian population had firsthand experience of paying bribes or peddling influence to get a job done in a public office. The main consequence of corruption is a loss to exchequer, an unhealthy environment for investment and an increase in cost of government services. Apart from this Corruption also leads to an unethical society. This increases the already existing gap between poor and wealthy. This may lead to unrest and destruction of modern societies. This social evil needs to be curbed so as to bring back moral values in the society as well as to fill the widening gap between the wealthy and the poor.…
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All of us are aware of the fact that the country, whom we love so much has been in the clutches and the diabolical jaws of the virus, called corruption. Corruption in India is the main cause of its every failure. Every developmental project and the defense requirements are being overshadowed by the corrupt officials. Even the very magistrates who are believed to be the axis of the law are corrupted to such an extent that millions of cases are pending for the last few days.…
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All these corruptions are due to the leaders of this country, as well as the citizens. Because, the leaders are promoting the citizen towards corruption by showing money. The main cause of corruption is also modernization of life style…
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Corruption is defined by the World Bank and Transparency International (TI) as “the misuse of public office for private gain.” As such, it involves the improper and unlawful behaviour of public-service officials, both politicians and civil servants, whose positions create opportunities for the diversion of money and assets from government to themselves and their accomplices. Corruption does have some common characteristics. For instance, it occurs in all countries regardless of the level of social and economic development. However each of these countries will agree that India is the nation where this problem has become the “cancer” of the society.…
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(Many people are writing on corruption and I feel the need to comment. So, I thought I should make a small essay and paste the relevant paragraphs whenever someone posts something on corruption. You may skip reading it for three reasons – one, it is just academic suiting only few who love English essays; two, you are likely to read it later on various comments, in parts though and third, it’s quite long and you risk falling asleep while going through it)…
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If two or more persons meet together and start talking about the present society of India, they soon come to the conclusion that every system, every institution of India is infested with corruption. Corruption has become so common in public life that people are now averse to thinking of public life without this phenomenon.…
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There are many myths about corruption, which have to be exploded if we really want to combat…
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