Yep that is why in third world coutries the PTT minister is a highly desireable job - lots of opertunities for diverting cash to ones swiss bank account.
Certainly North America and Europe (I assume that's what you meant by "we") have corruption issues, especially with deferred bribes in the form of industry appointments, and contract money flowing to well-connected companies. But that's decidedly different than seeing large percentages of tax revenue ending up as personal property, or state industries like telecoms being awarded as personal fiefdoms to cronies, who then use revenues like a piggy bank.
"Political correctness" is not a dirty word in my vocabulary -- I usually see it as sensitivity or tact -- but censoring our appraisal of corrupt governments because there are elements of corruption in the west, out of fear we'll be accused of hypocrisy or colonialism, is not helpful.
like Canada.
regulatory capture + an effective duopoly means I get to pay for gold plated service and actually get telcom services that the rest of the world laughs at.