Guide to Corruption Monitoring Indicators 

Corruption, a plague on societies, flourishes in the haziness of mystery and absence of accountability. Just like the darkness fears the light, corruption fears investigation. This is where corruption monitoring indicators come to the rescue, going about as bright lights uncovering the secret corners.

These indicators give basic information points to monitor and assess anti-corruption efforts. They give early warnings, highlighting possible dangers and regions demanding more consideration. But just recognizing indicators isn’t sufficient. A strong corruption monitoring process is significant to using them effectively.

Expect this blog to take you through the approaches to corruption monitoring and the entire process, along with a case study uncovering how Guatemala took measures to erase corruption from its systems.

Approaches to Corruption Monitoring

Corruption isn’t restricted to one sector. Instead, it ventures into different sectors. Therefore, making use of an in-depth and extensive methodology is quite important for monitoring corruption successfully. Here are a few areas that really require corruption monitoring:

• Public Procurement: Deeply taking a look at big rigging, contract inflation, and unusual vendor selection can bring out corruption related to the procurement sector. 
• Public Finance: Keeping a check on the budget allocations, spending patterns, and revenue generation also shows insight into potential misappropriation. 
• Rule of Law and Judiciary: Closely looking at the legal autonomy, admittance to equity, and the prevalence of bribery inside the legal system is also very important.

The Corruption Monitoring Process

The first and foremost step that is conducted during the corruption monitoring process is the gathering of information through studies, reviews, whistleblower reports, and resident feedback. The information gathered is in its raw form. It is further analyzed and refined. Then, the corresponding indicators, distinguishing patterns, and information across different sectors and timeframes give a thorough image of the corruption landscape. The next step is dissemination and engagement. The results are then given out to the partners and authorities, this increases trust and transparency among them. Once everybody has the results, remedial activity can be taken. This can include making changes in the strategies of legislation, etc.

According to the Global Corruption Barometer of Transparency International, around 26% of people around the world have faced issues like bribery during the last year.

Do you want to find out how you can manage risks using corruption monitoring, read this blog for some cool details.

How Did Guatemala Overcome Corruption?

Who doesn’t know about Guatemala’s corruption problem? This country was always a victim of corruption and ending it was a huge challenge. This was because the political influence there was very high and the place had experienced civil war as well. The upper class was using the assets of the public for their own selves and the violence was not stopping.

To fix this problem, the government of Guatemala had an agreement with the UN. Together, they established the CICIG, which included global analysts and prosecutors. Their mission was to stop the corruption in the country by breaking the criminal networks and making law and order stronger. The CICIG found politicians and businessmen involved in drug dealing, money laundering as well as fraud. Then, to make the situation better, changes were made in the judiciary and political systems. The public was allowed to report activities like corruption without any fear. The corruption monitoring evaluation along with the support of the public and the UN helped make Guatemala a place clean of corruption.

Enjoyed reading this case on the corruption in Guatemala? Check out this article on how corruption monitoring controls financial crimes.

Conclusion

Corruption monitoring is an amazing tool that makes finding out corrupt activities easy. It can recognize even the tiniest of details by using a high level of technology and help us get rid of corruption on every level. By using a corruption evaluation process in our businesses and countries, we can stay safe from the disease of corruption. Ready to get out from the shadows of corruption? Explore AML Watcher – a comprehensive suite of corruption monitoring. Choose who to screen and get real-time results in seconds.