Fighting Corruption and Embezzlement in Third World Countries

Economic crime is one of the most serious crimes endangering the national security and public safety of any country. It is directly associated with legal, political, social, human rights and development issues. In particular, economic crime harms Third World countries such as Ethiopia where poverty is prevalent and the economy is poor and supported by foreign aid and loans. White-collar employees like higher government officials and businessmen play a key role in creating and increasing economic crimes, namely corruption, embezzlement and fraud, all over the world. It is therefore important that any form of economic crime is identified and punished severely, by appropriate prison terms according to the seriousness of the offence. By applying these kinds of penalties to economic criminals, the rate and frequency of economic crime can be minimised and, simultaneously, pave a way to the fundamental practices of democracy, government transparency and the dominance of the rule of law in the country. The main purpose of this article is to explain the effect of corruption in Third World countries and ways in which it can be combated, in particular by the imposition of heavy penalties on those who choose to commit economic crimes in Third World countries. It is argued that this must be done to protect human rights, to bring about political and social stabilisation, to ensure effective and even distribution of national wealth and, eventually, to secure democracy and sustainable development in the Third World countries.