Governmental Mechanism of Handling Financial Sector Corruption
Date Issued
2008
Date
2008
Author(s)
Kuo,Chun-Ming
Abstract
Since financial sector is prone to various corruption scandals, it is vital to set up adequate monitoring and handling mechanism in government to monitor corporate financial governance. The regulatory mechanism on the banking systems in Taiwan and the recent financial scandals in Taiwan are critically examined. Top financial officers dealing with the monitoring and handling corruption cases are interviewed. he cases study in this project shows that: .Ethical behavior of the company leaders is the critical factor in preventing financial corruption..The powers of monitoring financial transactions and enforcing legal requirements should be integrated..Financial corruption cases usually involve the following phenomenon: involvement of company leaders; faulty internal control system; aggressive financial operations; and inadequate public financial monitoring system..Fear of systematic and serial financial crisis derived from a specific corruption case deterred the prompt handling of financial corruption cases by the government. After comparing the foreign experiences and institutions in handling financial sector corruption with Taiwan cases and governmental mechanism, several policy recommendations are proposed.
Subjects
financial regulaiton
financial system
financial scandal
financial corruption
Taiwan
SDGs
Type
thesis
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