- The financial and credit sphere today is one of the most susceptible to corruption, said the head of the Main Directorate for Economic Security and Combating Corruption (GUEBiPK) of the Ministry of Internal Affairs of Russia, Police Lieutenant General Andrei Kurnosenko.
- He clarified that the spheres of the development of budgetary funds, the consumer market.
- The activities of authorities and administration, as well as construction are also subject to corruption.
The financial and credit sphere today is one of the most susceptible to corruption, said the head of the Main Directorate for Economic Security and Combating Corruption (GUEBiPK) of the Ministry of Internal Affairs of Russia, Police Lieutenant General Andrei Kurnosenko. His words are quoted by TASS
He clarified that the spheres of the development of budgetary funds, the consumer market, the activities of authorities and administration, as well as construction are also subject to corruption.
In addition, Kurnosenko added, cases of corruption in the areas of transport and housing and communal services are often revealed.
The representative of the department said that the trend is due to the fact that corruption relations are associated with making a profit in the course of financial, economic and supervisory activities.
“Where large sums of money, primarily state ones, are circulating, there will always be those willing to ‘pinch off’,” explained Kurnosenko.
Earlier it became known that for the first time in recent years in the country the cost of the arrested property of corrupt officials exceeded the established damage. Thus, the cost of arrested and confiscated assets in criminal cases amounted to 53.8 billion rubles, while the amount of the established damage reached 53.2 billion rubles.
Cryptocurrency in Suspicious Corruption category
Let us also recall that the Prosecutor General’s Office has developed norms for the confiscation of cryptocurrency. Krasnov noted that the department also proposes to consolidate the term “cryptocurrency” in the legislation.
A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.
- A cryptocurrency is a form of digital asset based on a network that is distributed across a large number of computers. This decentralized structure allows them to exist outside the control of governments and central authorities.
- The word “cryptocurrency” is derived from the encryption techniques which are used to secure the network.
- Blockchains, which are organizational methods for ensuring the integrity of transactional data, are an essential component of many cryptocurrencies.
- Many experts believe that blockchain and related technology will disrupt many industries, including finance and law.
- Cryptocurrencies face criticism for a number of reasons, including their use for illegal activities, exchange rate volatility, and vulnerabilities of the infrastructure underlying them. However, they also have been praised for their portability, divisibility, inflation resistance, and transparency.
Source : Investopedia