Identification of corruption risks in the banking sector of the economy

Abstract

Unfortunately, nowadays corruption is one of the main problems of developing countries. High level of corruption offences badly hits the prestige of the country and reduces the level of trust in government. One of the hardest spheres in terms of combating corruption is the banking sector, because the banking system collides with the most complicated forms of corruption. It is the fact that banking assets in monetary terms are close to the country's GDP, which potentially makes the banking sector attractive to corrupt officials. In this regard, the study of the specifics of the occurrence of corruption risks in the banking sector, as well as strategies and approaches to their elimination, requires thorough checks in all its areas of activity. Drawing up an effective strategy will significantly minimize the risks of corruption and achieve more transparent and efficient banking sector, which in the future, of course, will affect the quality of the services provided by the bank. Therefore, the strategy of building an effective banking sector should be a priority for developing countries, because these countries more often face with corruption risks.