Negatives Of Corruption

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Corruption is one of the world’s largest obstacles to economic development and growth. Research shows that bribery no doubt have grim opposing effects on economic growth, inequality and poverty and on the allocation of public spending on education, health and infrastructure.
Corruption is often defined as the manipulation of public power for private benefit. It applies to any transaction between the public and the private sectors where public goods illegally are transformed into private benefits.
ACC key provision against corruption applies to both public and private sectors and states: «Any person who a) for himself or other persons, requests or receives an improper advantage or accepts an offer of an improper advantage in connection with a position, office or assignment, or b) gives or offers anyone an improper advantage in connection with a position, office or assignment, shall be liable to a penalty for corruption».
Position, office or assignment includes job duties or assignments overseas. Compliance to corruption is also illegal in the same manner. It should also be emphasized if the act is committed by - or against - a public official, or any other person whom in breach of the special confidence that comes with his position, office or commission, whether it has provided significant economic benefit, whether there was a risk of significant harm economic or another, or if it 's false accounting information, prepared false accounting documents or false statements.
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