Corruption Plagues Cyprus’ Finance Sector, Survey Reveals
A recent survey by Transparency International’s Global Corruption Barometer has revealed alarming figures about the prevalence of corruption in Cyprus’ finance sector. According to the report, 65% of Cypriots believe that corruption has increased over the past year, placing Cyprus at the top of the EU list.
Corruption on the Rise
The survey involved 40,000 participants from the EU’s 27 member states and found that four out of ten Cypriots used personal connections to access public services in the past year. This phenomenon is not unique to Cyprus, as three in ten people across the EU also resorted to similar tactics.
Healthcare: A Vulnerable Sector
Healthcare appears to be a particularly vulnerable sector, with 29% of EU residents using personal connections to access medical attention. Although only 6% of people paid bribes for healthcare, Transparency International warns that this practice can have devastating consequences during times of crisis, such as the ongoing pandemic.
“Using personal connections to access public services can be as damaging as paying bribes,” said Delia Ferreira Rubio, Chair of Transparency International. “Lives can be lost when connected people get a Covid-19 vaccine or medical treatment before those with more urgent needs.”
Perceptions of Impunity
The report also highlights widespread perceptions of impunity, with only 21% of EU citizens believing that officials often face appropriate penalties for corruption. This lack of accountability has contributed to the growing distrust in government institutions.
Sector-by-Sector Corruption Concerns
Citizens are divided about which sectors have the biggest corruption problems, with half of EU countries citing prime ministers and members of parliament as the most corrupt, while others point to business executives and bankers.
Trust in Institutions
Despite concerns about corruption, trust in law enforcement agencies, local governments, and courts remains high across the region. However, people are increasingly scrutinizing the close relationship between businesses and government, with 69% of Cypriots believing that their government is run on behalf of private interests.
Conclusion
The report concludes that this cozy relationship can lead to policies being made in favor of narrow private interests rather than the common good. With less than a third of EU citizens thinking their government takes their views into account when making decisions, it is clear that corruption remains a pressing issue in Cyprus’ finance sector.
Key Statistics
- 65% of Cypriots believe corruption has increased over the past year
- Four out of ten Cypriots used personal connections to access public services in the past year
- 29% of EU residents used personal connections to access medical attention
- Only 6% of people paid bribes for healthcare
- 21% of EU citizens believe that officials often face appropriate penalties for corruption