Financial Crime World

Corruption Cripples Solomon Islands’ Financial Industries: SIICAC Chairman Slams Lack of Government Support

The Solomon Islands, known for its corrupt financial practices, has taken another hit as the head of the Independent Commission Against Corruption (SIICAC), Sir Frank Kabui, lambasted the government’s lack of support in fighting corruption. According to the 2023 Corruption Perception Index (CPI), the country scored a dismal 43 out of 100, indicating a severe crisis in its public sector.

SIICAC: A “Tiger without Teeth”

Sir Kabui criticized SIICAC as being a “tiger without teeth”, boasting a prestigious name but lacking the power to effectively combat corruption. This scathing criticism comes as no surprise, given the government’s failure to provide financial support for the commission’s operational costs since its establishment in 2018.

Stagnant Progress

Rodney Kingmele, Chairman of Transparency Solomon Islands (TSI), painted a grim picture at the report launch, highlighting the country’s stagnant progress in fighting corruption. Despite worldwide efforts to criminalize corruption and establish specialized institutions to deal with it, Solomon Islands has made little headway since its score improvement in 2018.

Powerless in the Battle Against Corruption

The government’s lack of commitment to supporting SIICAC has left the commission powerless in its battle against corruption, Sir Kabui lamented. “How can we expect to effectively combat corruption when there is no commitment from the government?” he questioned.

Call to Action

Ruth Liloqula, Chief Executive Officer of TSI, urged citizens to come together to fight corruption, emphasizing that the power lies within them. Despite the country’s poor CPI score, Ms. Liloqula remains optimistic, calling for collective action against corruption in Solomon Islands’ financial industries.

Key Points:

  • Solomon Islands scored a dismal 43 out of 100 on the 2023 Corruption Perception Index (CPI)
  • SIICAC lacks the power to effectively combat corruption due to lack of government support
  • The country has made little headway since its score improvement in 2018
  • Citizens are urged to come together to fight corruption and take collective action against corrupt practices in financial industries.