PM's corrupt payouts (7)
I believe the answer is:
autopsy
'pm's' is the definition.
(PM can mean postmortem)
'corrupt payouts' is the wordplay.
'corrupt' indicates anagramming the letters.
'payouts' with letters rearranged gives 'AUTOPSY'.
(Other definitions for autopsy that I've seen before include "A post-mortem examination of corpse" , "Dissection of a body to determine the cause of death" , "Examination to determine cause of death" , "Pays out (anag.)" , "Examination after death, a post-mortem" .)