Kleptocratic govts treat country's Treasury as its own bank account.

Learn the consequences of kleptocracy, says TI-M

FMT Reporters

 | July 23, 2016

Akhbar Satar says kleptocratic governments treat country's Treasury as its own bank account.

PETALING JAYA: Malaysia’s leaders must be prepared for the consequences of kleptocratic actions, warns Transparency International Malaysia president Akhbar Satar.

He said kleptocratic governments “impose massive tax burdens on the public and enterprises. A kleptocratic government treats its country’s treasury as though it is its own bank account,” Akhbar told FMT. “They exploit the wealth of the public and use the proceeds for their own use or glorification; they spend funds on luxury projects to obtain more commission.”

He was commenting on the forfeiture complaint filed by American federal prosecutors to seize assets said to have been acquired through funds looted from 1Malaysia Development Berhad.

Akhbar noted that for a nation to be labelled as a kleptocracy, it must be ruled by a government dominated by unethical leaders pretending to be honest but who have rampant greed and are involved in corruption.

“A government practices cronyism and nepotism by awarding prime contracts and civil service posts to relatives or personal friends rather than giving them to competent candidates; it creates projects at policy level with the main reason being to funnel money out of the treasury to itself or its cronies, with little viability or necessity of the projects,” Akhbar said.

A kleptocracy, Akhbar added, literally means “rule by thieves”.

Akhbar also noted that Transparency International had in 2004 previously named Indonesian president Suharto as the most corrupt world leader of the past 20 years.

“He stole between $15-$35 billion, topping notorious kleptocrat Ferdinand Marcos of the Philippines who robbed between $5-$10 billion.”

“Eventually, most of these corrupt leaders were ousted, arrested, prosecuted or sentenced to life in prison. Worst of all, their spouses, children and families suffered and were humiliated for generations.

“Are you ready for the consequences of these actions?” Akhbar asked. 

Kleptocratic governments treat country's Treasury as its own bank account. Let us bring an END to this EVIL here!!!