Banks were created to work for and on behalf of their customers, and by staying true to that purpose, they earned their customers’ trust that they placed the financial interests of consumers at the centre of their operations. Over time, and partly due to financial crises, that trust has been eroded, and only a root-and-branch reform will recreate the societal purpose on which ethical banking was founded.
University of Cambridge
As its name suggests, corruption is a contaminating influence on whatever it touches, financial businesses included. That’s why various international parties—business decision-makers, policymakers, regulators, police, journalists, consumers—are seeking collaboration, transparency and partnership as they hash out solutions to the blight of corruption at local and national levels.