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| Title: | Financial crimes and the law: a critical legal analysis of the embezzlement of public funds in Tanzania |
| Author: | Kibamba, Kiomon |
| Year: | 2013 |
| Periodical: | Journal of African and international law (ISSN 1821-620X) |
| Volume: | 6 |
| Issue: | 1 |
| Pages: | 1-78 |
| Language: | English |
| Geographic term: | Tanzania |
| Subjects: | commercial crimes fraud legislation corruption |
| Abstract: | The embezzlement of public funds and fraud in Tanzania are still large problems and there is a lot that needs to be done to deter such practices. Certain laws have been put into place to try and counter these financial crimes, but have not been effective enough, due to the magnitude of the problems. Tanzania has two legislations which regulate collection and the use of public funds: the Public Finances Act and the Local Government Finances Act. The main perpetrators are public officials, and the Penal Code imposes a penalty of seven to fourteen years of imprisonment to public officers who are found guilty. The Public Finances Act empowers the Minister of Finance to impose a surcharge as a penalty for contravention of any provision of this Act, specifically where a public officer has caused loss or deficiency of public money entrusted. This further empowers the Minister to order the conversion of such a loss or deficit to a debt to be recovered by virtue of the Public Officers (Recovery of Debts) Act of 1970. The discrepancy between the penalties imposed by the Penal Code and penalties imposed by the Minister for Finance against public officials for breach of trust and fraud is the major problem which contributes to the embezzlement of funds; this is because the penalty imposed on public officials who cause loss or deficits is not enough to stir remorse among perpetrators. The paper examines and evaluates how the contradictions of the law, relating to financial management and financial crimes, have loopholes, which facilitates the embezzlement of public funds. The author also discusses and analyses the international efforts to combat embezzlement of public funds and financial crimes, and the nature of these crimes in Tanzania. Notes, refs. [ASC Leiden abstract] |