New Delhi : CBI Director Ranjit Sinha today said “collusive corruption” in which there is a willing bribe-giver is emerging as a “formidable” challenge for institutions fighting corruption.
“When the talk turns to corruption, the focus is on the demand side of the equation, on public officials who abuse their office for private gain. Frequently, the supply side is given less attention.
“Those who pay bribes are sometimes depicted as innocent parties, victims of extortionary practices of wily public servant,” Sinha said during the seventh Interpol global programme on anti-corruption, financial crime and asset recovery.
The agency is probing a number of high-profile crimes where natural assets like spectrum, iron ore and coal have allegedly been allotted to parties who willingly engaged in graft to grab these lucrative contracts. The CBI Director said corruption is a two-way street and for every bribe taker there is a bribe payer. “Collusive corruption is a formidable challenge, particularly for public individuals and institutions fighting bribery and corruption,” he said.
Sinha said targeting the supply-side of corruption is imperative and India is in the process of addressing this emerging area as part of various measures that are being adopted to make Indian legal framework compliant to United Nations Convention against Corruption. The CBI chief said illicit funds or proceeds of crime which are moved across borders originate from three sources namely bribery and corruption, criminal activity and commercial tax evasion.
“These illicit flows are facilitated by loopholes in the international financial system, the system's opacity and the lack of enforcement of due diligence requirements and more importantly the provisions of bank secrecy and privacy in tax havens,” Sinha said.