1. World problems
  2. Misappropriation of public funds

Misappropriation of public funds

  • Embezzlement of public funds

Nature

Public funds can be misused to the benefit of partisan, group or individual interests, and they may used unjustly to finance political parties, electoral campaigns, secret police, or espionage. Government contracts may be unfairly allocated; unbacked promissory notes may be issued and the funds used; appointed positions may be given to favourites and appointees may enjoy unequal salaries.

Incidence

During and following the Gulf War, it is alleged that some US$5 billion was unlawfully taken from the public funds of Kuwait by businessmen and officials, including members of the ruling Sabah family. This resulted in the depletion of Kuwaiti investments in London, Paris and Spain. Senior officials are alleged to have removed at least US$70 million.

Broader

Embezzlement
Presentable

Aggravates

Aggravated by

Related

Strategy

Value

Misappropriation
Yet to rate

SDG

Sustainable Development Goal #11: Sustainable Cities and CommunitiesSustainable Development Goal #16: Peace and Justice Strong Institutions

Metadata

Database
World problems
Type
(D) Detailed problems
Subject
  • Commerce » Currency
  • Commerce » Finance
  • Commerce » Property
  • Government » Public
  • Content quality
    Presentable
     Presentable
    Language
    English
    Last update
    Oct 4, 2020