Examining the potential impact of whistleblowing on corruption in the Caribbean’s financial sector
2018
This chapter discusses the potential impact whistleblowing can have on corruption in the Caribbean's financial sector. Corruption is most commonly defined as "the abuse of public power for private benefit and is further noted by Akinseye-George to be the "mother of all crimes". Corruption is a major concern in the Caribbean, as its effects on the society are widespread in both direct and indirect ways. Transparency International, a global movement that aims to have a world free of corruption, publishes the yearly Corruption Perceptions Index (CPI), an index that ranks various countries in the world based on corruption. As evidenced by the 2016 CPI, countries in the Caribbean continue to be poorly ranked on corruption. In the cases of Colonial Life Insurance Company and the Hindu Credit Union, whistleblowing could have eliminated the corruption in those organizations if the disclosures had prompted swift action in the form of internal and external investigations into those corporations' activities.
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