IT To Root-Out Corruption: Summary

By: Valerian Texeira

This Paper basically contends that; ‘almost all economic crimes popularly known as corruption, occurs primarily because of the economic system facilitating surreptitious or illicit money transactions. The cash money plays the key role, as it enables the unscrupulous people to make the illicit money transactions and keep it without leaving any concrete records or evidences so to escape from its public, legal scrutiny. It is also called as “Willful Hiding” or concealment of money. Thankfully the good news is that the Information Technology (IT) today with its innovative “Electronic (E)Money Transaction” including its most recent Near field Communication (NFC) mobile phone money transaction technology, if made mandatory in combination with ‘Biometric Identity’ in all bank accounts, can enable the Governments to root-out most economic crimes. Only if there is a political will to get it done’

See its PRINCIPLE document titled: “IT To Root-Out Corruption" in the previous post.

Last visited on 3-3-2011 to keep it in a working condition

Another Anti-Corruption Body Will Fail Unless...

Please note; the above is my Comment title.See its main articles titled "Another Anti-Corruption Body In Offing". See it in

http://dailyguideghana.com/newd/index.php?option=com_content&task=view&id=3190&Itemid=243

The Attorney-General and Minister for Justice, Mrs. Betty Mould-Iddrisu should realize that all their anti-corruption legislation going to fail unless they bring in a legislation first of all to ‘Make all money transaction above a given amount only by Electronic (E) Money, directly through the bank to the bank account necessarily having the Biometric Identity’. This will root-Out almost all corruption and its associated crimes from the society. What is needed is the political will to get it done.

The details of this anticorruption measure explained in its principle document titled “IT To Root-Out Corruption”. Its website www.anticorruption-it.info. More of it in the blog http://i-opinion-about.blogspot.com/

A Monitary Reform for US President Obama To Succeed

Barack Obama sworn in as the 44th president of the United States on 21^st of Jan 2009 amidst great people expectations.

To fulfill the peoples expectations of a great economic revival and a free world from terrorism, crime and corruption I urge him to bring in He the following extraordinary monetary reform. ‘Bring in Mandatory Biometric Identity in All Bank Accounts and all money transaction above a given amount should be carried only through the bank to the bank account.

If it gets implemented it can root out the terrorism, crime and corruption devastating today’s world. And the world will usher in a great economic social and political revival.

Valerian Texeira
St. Joseph Nagar Jeppu
Mangalore – 575002 INDIA

Satyam Raju faked over 6000 salary accounts

See it in NDTV.com online http://profit.ndtv.com/2009/01/21134045/Raju-may-have-faked-over-6000.html>. Under the title : “Six members of Satyam top brass involved?”; quoting sources reports Raju may have faked over 6000 salary accounts.

Use of fake bank accounts for the embezzlement of money is not an isolated case of B Ramaliga Raju of Satyam but there are thousands of such unscrupulous people who open up fake, bogus or benami bank account and carry on their illicit money transactions siphoned by fraud, corruption and crime. “A simple way to stop it is to bring in Mandatory Biometric Identity in All Bank Account.” As there is “no political will” to get it.

Valerian Texeira
St. Joseph Nagar Jeppu
Mangalore – 575002 INDIA

Indian Executive Is Said to Have Siphoned Cash

Came across the above titled news report in the NYTimes websit link http://www.nytimes.com/2009/01/18/business/worldbusiness/18india.html?ref=worldbusiness > This once again confirms my doubt that the Satyam top brass the perpetrators of the Satyam fraud in fact Siphoned the company funds rather than merely inflating its figures as they like to us to believe. Here I would like reiterate my comment on this matter that I first posted in this site on 13^th Jan 2009:

The estimated 7800 Crore of Satyam investors “stiffened” money now sitting cool and safe in the bank accounts or converted into, cash or in valuable assets, properties of B. R. Raju, family members, close relatives, and the associates involved in this fraud!

However it would be highly unlikely that the Satyam fraud investigating agencies ever will be able to detect or find out those bank accounts and the valuable assets because most of those bank accounts , properties are cleverly hidden under bogus or fake ID documents in the BANAMI accounts of those culprits.

To prevent people from having the fake ID bank accounts and owning valuable assets properties under the Benami or the bogus name and to engage in all sorts of illicit money transaction or corruptions including this fraud; I urge the Government to “bring in Mandatory Biometric Identity MBID in all bank accounts, thereby making all money transaction above a given amount (specially when it comes to large sums of money and the things of social security matters) only through the bank to the bank account called Mandatory Electronic Money Transaction.

The Satyam fraud investigating agencies would have easily detected and immediately recovered all the money and the properties made by the Satyam fraud if the above mentioned MBID/MEMT bank account money transaction policy in place. Most probably such fraud would not have happened there in the first place! For more information on this matter please search: “IT to Root-Out Corruption”.

Valerian Texeira
St. Joseph Nagar Jeppu
Mangalore – 575002 INDIA

http://www.anticorruption-it.info