Beyond Dirty Money Transactions

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Raising vigilance level to track down influence peddlers in the system of governance can go a long way to control the menace of corruption. 

Street Talk

Expert Opinion

By: Sajjad Bazaz

([email protected])

A snippet of the statement dished out by the Chief Minister Omar Abdullah on the occasion of kickstarting the Vigilance Awareness Week on October 28, is worth quoting to begin today’s column. He said, “As we mark Vigilance Awareness Week, I reaffirm our unwavering commitment to a corruption-free Jammu and Kashmir. Eradicating corruption is more than a priority; it is a mission that drives us to introduce bold reforms, strengthen oversight, and empower citizens. Our goal is to build a governance model where every resource is utilised for the public good.”

A declaration of war against corruption from horse’s mouth is a huge confidence-building measure for the general public to expect the new governance model driven by accountability, transparency and merit in real sense. It is worth mentioning that promoting a culture of integrity, strengthening institutions, enhancing transparency and accountability, and fostering ethical behaviour are essential components that translate into a high quality governance – be it political governance, corporate governance, socio-economic or bureaucratic governance. However, it requires collective will and efforts from individuals, communities, governments, and other stakeholders to handle  these components in an honest and ethical manner. But those having power or authority have a huge responsibility to create and promote a more transparent and just society. 

Actually, for the past few years, one of the most buzzwords all over the country is corruption. From primary school to higher echelons of power, the termite of corruption dominates every day discussions. In layman language, corruption is described as the act of money transactions done under the table exchange. Even as the money in itself is not an evil, it’s the under-table deal which has made (and continues to make) the money dirty. Corruption, black marketing, smuggling, drug trafficking, tax evasion or name any form of evil existing in our society, the root cause is the misuse of money. The money-crazy people want more money to cater to their needs and during the course they don’t hesitate to have money from any source and it’s here the money laundering is prosperously promoted.

So, in terms of money matters, corruption is a game of two players: one who gives, and one who takes it. Wittingly or unwittingly, we have integrated this menace in every aspect of our life, making it extremely difficult for us to stay in business without resorting to unethical or illegal practices. 

Notably, the impact of this dirty money has a direct bearing on our economy in several ways. In the first instance it leads to the misdirection of our precious resources. The income distribution gets worsened. It is interesting to note that there are income tax advisers, chartered accountants and other financial advisers who are part of the establishment of dirty money operators. One of the big disadvantages is that the dirty money has viciously corrupted every system. Succinctly, the politics of dirty money has decomposed our moral fibre. The existence of this huge hidden segment of the economy has handicapped our planners in making a correct analysis and formulation of right developmental policies for various sectors of the economy. So, if the dirty picture of the money is not cleaned, it’s sure to lead us to ruin.

Apart from dirty money transactions, which is a universal source of promoting corruption, the most lethal form of corruption is influence peddling. This is a situation where a person is selling his influence over the decision process involving a third party-be it a person or an institution.

The coterie around any power or authority is always engaged in peddling influence or connections for personal gain, often involving gaining favors or advantages in decision-making processes. These influence peddlers exploit the power of decision-makers to manipulate outcomes or secure favorable treatment for themselves or others. In the end, this practice undermines the principles of fairness, transparency  and accountability by allowing individuals to gain advantages through personal connections. This influence peddling results in the  erosion of public trust, distorts decision-making processes, and perpetuates social disorder breeding unrest in societies, communities and the region.

It is here the Omar Abdullah-led J&K government has to raise vigilance level to track down influence peddlers, both within the system and outside the system. This lethal form of corruption mostly has its roots in the governance system as some of those vested with huge powers at the top misuse the system to serve their coterie.

This needs a serious thought as the menace in some cases can prove lethal. In fact, harming the person on flimsy grounds through influence peddling is another form of fake encounter.

Even as there are regulations in place to prevent conflicts of interest, ensure transparency in decision-making, and restrict the undue influence of powerful individuals or groups, there is an urgent need to revisit the existing measures to make stringent laws so that any authority at the top found involved in influence peddling is booked under relevant laws of the land. Promoting transparency, accountability and integrity in government as well as  private sector is crucial in combating influence peddling. 

Strengthening governance structures, implementing codes of conduct and enforcing anti-corruption measures through renewed accountability laws where an authority or those vested with huge powers are made accountable for their decisions can go a long way to help prevent and address this form of corruption, which is lethal in nature. Remarkably, experts suggest whistleblower protection mechanisms, independent oversight bodies and strong enforcement of regulations  to detect and deter peddling of influence.

Meanwhile, in the words of our Prime Minister Narendra Modi: “No matter how powerful the corrupt may be, they should not be saved under any circumstances. No corrupt person should get political-social support, every corrupt person should be put in the dock by the society, it is also necessary to create this environment.”

Touching upon a worrying trend, the Prime Minister said, “We have seen that many times the corrupt people are glorified in spite of being jailed even after being proven to be corrupt. This situation is not good for Indian society. ” 

It is true, the government alone cannot fight a war against corruption. Common citizens too have a responsibility to fight out this menace. The prime minister has also stressed the need to bring in common citizens in the work of keeping a vigil over corruption.

(The author is a veteran journalist/columnist. He is former Head of Corporate Communication & CSR and Internal Communication & Knowledge Management Departments of J&K Bank)