When To Expose Corruption

Company Officers will find themselves mixing in all circles of life from workers to senior management at the biggest corporations in the World. Sometimes it seems that a rule is being broken because that’s just the way it is. When should a Company Officer take a step away from this corruption and inability to see the long term damage that this does to our economy? The answer is simple…

Immediately…

Whenever we are faced with corruption we are faced with money being misappropriated from positive and productive economic goals to the goals of certain individuals to hoard more wealth than the are legitimately entitled to. The Company has no interest in individuals furthering their own finances at the expense of growth, productivity and hard work. The lazy, and the incompetent have no home within the ranks of Officers. Remember that each of these lazy and incompetent workers who seek to misappropriate funds are simply removing funds that could have been allocated to more productive ends.

One Bad Apple Makes For A Rotten Tree

Sadly these corrupt individuals also inhibit the ability of others to do business effectively. What impact do you really think the anti-bribery legislation has had in the UK except to add a significant layer of cost and monitoring to legitimate firms; a shroud of suspicion has been cast over even the most honest of reciprocal arrangements. Meanwhile the corrupt largely go about their ‘business’ with little fear of recriminations.

Another good example of those who stray from the path of hard work and productivity destroying value for the rest can be seen from the state of the UK mortgage industry. Brokers committing fraud along with their customers – they would call taking advantage of a loophole soft fraud, I would call it real fraud – for example deceiving lenders by purchasing a Buy To Let property intending it to actually be a main residence simply causes lenders to be more strict, lend less and do what they can to avoid this fraud. This results in, very often, less lending to legitimate buy to let applicants; this can be seen through the total unavailability of first time buyer buy to let products (there are about five lenders who still offer these). Real customers have been damaged by fraudsters who thought they were just helping themselves to a small extra profit or taking advantage of a loophole. No good can come of this. Company Officers should report fraud immediately and remember that only hard work, economic growth and productivity improvement create real, deserved wealth.

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