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March 5, 2020 By Richard Bowen

Corruption Doesn’t Live Here Anymore!

Picture of cash spilling out of an envelope with "bribe money" written on it. Circle with slash over center of image.
Envelope of cash photo by ccPixs.com under CC 2.0. Text and circle with slash added.

Imagine a school assembly in Anywhere, USA. The announcer takes the stage and with great fanfare says, “Attention, teachers, students, parents and welcomed guests, we are honored to present this year’s anti-corruption award to our very own anti-corruption hero… and this year’s recipient is …!”

Now at the moment, this is not an award that is given in schools across our country. It is however an award given by Transparency International as the Anti-Corruption Award. It recognizes the courage and determination of the many individuals and organizations fighting corruption around the world.

The Award honors remarkable individuals and organizations worldwide, including journalists, public prosecutors, government officials and civil society leaders.

It is an award that is very much needed, and I wish it would extend into our school systems so that students, their teachers and their families could be more aware that fighting corruption pays off.

Rise of fraud and corruption

This is an era where fraud and corruption are on the rise, where the United States has fallen to a score of 69, its lowest score in eight years; the first time since 2011 that the U.S. has fallen outside of the top 20 countries on the Corruption Perceptions Index (CPI) list.

The CPI is an index published annually since 1995 by Transparency International, which ranks countries “by their perceived levels of corruption, as determined by ‘expert assessments’ and opinion surveys.” This year’s study highlighted the relationship between politics, money and corruption.

Using the definition of corruption as “the misuse of public power for private benefit,” the Index currently ranks 180 countries on a scale from 100 (“very clean”) to 0 (“highly corrupt”). Unfortunately, to date, the CPI shows that there is little to no improvement in the majority of countries worldwide.

In 2017 a public opinion survey published by Transparency International showed nearly six in ten Americans believed that the U.S. was more corrupt than the previous year. In fact, it had a score of 75. In 2018 the U.S had a score of 71. The latest score of 69 emphasizes this growing divide in trust.

More than 130 countries have made little to no progress in tackling corruption. Even sadder and more alarming, their research shows that more than two-thirds of countries scored below 50, with an average score of 43.

Corruption chips away at democracy to produce a vicious cycle, where corruption undermines democratic institutions, and in turn, weak institutions are less able to control corruption
– Patricia Moriera

According to Patricia Moreira, TI’s Managing Director, “Corruption chips away at democracy to produce a vicious cycle, where corruption undermines democratic institutions, and in turn, weak institutions are less able to control corruption,”…“Around the world, we need to do more to strengthen checks and balances and protect citizens’ rights, and the U.S. is no exception.” (Visit the CPI 2019 report for full recommendations.)

Awarding those who fight corruption

The Anti-Corruption Award recognizes particular actions or initiatives undertaken by one or several individuals or organizations, which together constitute a tangible contribution to the fight against corruption and the mission of Transparency International. Nominations are open, and the public award ceremony honoring a recipient will take place in Seoul, Korea in June of this year.

Transparency International looks at three criteria to determine recipients: Impact, Courage and Sustainability, with the winners having had a significant impact on corruption in their respective countries. The winners echo a common theme, and that is that corruption can be challenged.

Transparency International’s vision is challenging, and I highly respect their efforts: One global movement sharing one vision: a world in which government, business, civil society and the daily lives of people are free from corruption. With more than 100 national chapters worldwide the organization works with partners in government, business and civil society to put effective measures in place to tackle corruption.

Can we change direction?

What I find not only sad but very disturbing is that the CPI trends shows that there has been no real progress worldwide in addressing corruption.

It looks as if we are definitely headed in the wrong direction. Can this direction be stopped?

Or is it too late and we’ve turned a corner from which there is no turning back?

Another Non-Ethical Poster Child
Life on the Fast Track

Tagged With: Anti-Corruption, Award, Corruption

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Richard Bowen is widely known as the Citigroup whistleblower. As Business Chief Underwriter for Citigroup during the housing bubble financial crisis meltdown, he repeatedly warned Citi executive management and the board about fraudulent behavior within the organization. The company certified poor mortgages as quality mortgages and sold them to Fannie Mae, Freddie Mac and other investors.

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  • The House the Revolving Door BuiltThe House the Revolving Door Built

What People Are Saying About Richard M. Bowen

William D. Cohan"Richard Bowen is one of my heroes. His is a story of human fortitude at its best and Wall Street at its worst."

~ William D. Cohan, NY Times Best Selling Author
2017-06-30T10:08:59-05:00
"Richard Bowen is one of my heroes. His is a story of human fortitude at its best and Wall Street at its worst." ~ William D. Cohan, NY Times Best Selling Author
https://richardmbowen.com/testimonials/2556/

Eileen McDonnell"Richard Bowen reinforced my motto that "there is no right way to do a wrong thing.” Long after his presentation, the conversation has continued about personal responsibility and the courage to challenge things that appear to be wrong. We encourage this dialog and rely on it to help make our business stronger."

~ Eileen McDonnell, Chairman, CEO, & President, Penn Mutual
2015-02-13T19:51:19-06:00
"Richard Bowen reinforced my motto that "there is no right way to do a wrong thing.” Long after his presentation, the conversation has continued about personal responsibility and the courage to challenge things that appear to be wrong. We encourage this dialog and rely on it to help make our business stronger." ~ Eileen McDonnell, Chairman, CEO, & President, Penn Mutual
https://richardmbowen.com/testimonials/711/

Ben Stein"Richard Bowen, you are a star and a hero."

~ Ben Stein, Economist and Political Commentator
2015-02-13T19:50:26-06:00
"Richard Bowen, you are a star and a hero." ~ Ben Stein, Economist and Political Commentator
https://richardmbowen.com/testimonials/712/

Jim Farrell"Richard's speech at the April Financial Executives International dinner was informative, interesting, riveting, and fast moving.  The feedback from members was overwhelming positive, and Richard received one of the few standing ovations given by our membership."

~ Jim Farrell, Program Chairman, Dallas Chapter, Financial Executives International
2014-12-28T19:48:17-06:00
"Richard's speech at the April Financial Executives International dinner was informative, interesting, riveting, and fast moving.  The feedback from members was overwhelming positive, and Richard received one of the few standing ovations given by our membership." ~ Jim Farrell, Program Chairman, Dallas Chapter, Financial Executives International
https://richardmbowen.com/testimonials/532/

Dennis McCuistion"Richard Bowen has been there, done that, and has the scars to prove it, and his message of corruption at the highest levels of industry and government needs to be heard. I only wish that more bankers had the courage that Bowen exhibits. He is not only one of the most talented bankers I have ever met, he has more integrity than all the bankers on Wall Street put together. If his former employer had listened to him taxpayers would not have had to bail out Citi for the third time in the last 30 years."

~ Dennis McCuistion, Host of the McCuistion TV program
2014-12-28T19:48:06-06:00
"Richard Bowen has been there, done that, and has the scars to prove it, and his message of corruption at the highest levels of industry and government needs to be heard. I only wish that more bankers had the courage that Bowen exhibits. He is not only one of the most talented bankers I have ever met, he has more integrity than all the bankers on Wall Street put together. If his former employer had listened to him taxpayers would not have had to bail out Citi for the third time in the last 30 years." ~ Dennis McCuistion, Host of the McCuistion TV program
https://richardmbowen.com/testimonials/533/

Betty Garrett"Richard Bowen is a dynamic, entertaining speaker and story-teller - a CPA with a great personality!"

~ Betty Garrett, Garrett Speakers International
2014-12-28T19:47:50-06:00
"Richard Bowen is a dynamic, entertaining speaker and story-teller - a CPA with a great personality!" ~ Betty Garrett, Garrett Speakers International
https://richardmbowen.com/testimonials/531/

fred-timmons"I believe Richard Bowen is the only keynote speaker to ever receive a standing ovation from the Texas Society of CPA’s at any of its annual conferences."

~ Fred Timmons, Chairman of The Texas Society of CPA's
2014-12-28T19:47:22-06:00
"I believe Richard Bowen is the only keynote speaker to ever receive a standing ovation from the Texas Society of CPA’s at any of its annual conferences." ~ Fred Timmons, Chairman of The Texas Society of CPA's
https://richardmbowen.com/testimonials/530/

Presentation Topics

Playing for High Stakes: The Principles and Practice of Ethical Leadership

Dark Citi: The Story of a Whistleblower

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Now an ethical leadership speaker, Richard Bowen was Citigroup's Business Chief Underwriter during the housing bubble.

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