Corruption is Threatening Economic Growth for Countries Large and Small

Corruption is a growing issue for countries large and small, which hinders the publics trust towards the government and prominent leaders. In a recent report released by Transparency International, the corruption perception indexes of all countries for 2014 were shown.  The image reflects countries that are either highly corrupt, in the middle, or very clean.

“The Corruption Perceptions Index ranks countries and territories based on how corrupt their public sector is perceived to be. A country or territory’s score indicates the perceived level of public sector corruption on a scale of 0 (highly corrupt) to 100 (very clean).”

Needless to say, it represents a shocking picture that brings great attention to the issues of bribery, corruption, and backroom deals. Public sector corruption is not a simply defined topic—corruption issues can arise from “poorly equipped schools, counterfeit medicine, and elections decided by money.” Countries shown as highly corrupt are most likely victims of, “widespread bribery, lack of punishment for corruption and public institutions that don’t respond to citizens needs.” Additionally, according to Transparency International, countries that have high indexes need to act because of their influence in the economic sector:

“ Leading financial centers in the EU and US need to join with fast-growing economies to stop the corrupt from getting away with it. The G20 needs to prove its global leadership role and prevent money laundering and stop secret companies from masking corruption.”

Many companies are faced with threats to their economic development as corruption and bribery scandals become more prominent. Implementing an effective compliance program that addresses all corruption vulnerabilities is essential to safeguarding your company against unethical practices. In particular, an effective anti corruption policy system addresses anti-corruption policies to be both consistent with risk and to be routinely followed. For companies who are interested in identifying corruption exposures, Source Intelligence powered by Create, is offering a complimentary anti-corruption assessment to assist in safeguarding your company with a quality anti-corruption program. Interested participants can use this link to sign up for the assessment.

For the full Transparency International report, “Corruption Perceptions Index 2014: Results,” and to get a better idea of where corruption ranks the highest, read here. 

Source Intelligence Contact:

Lina Ramos, Chief Business Officer
(877) 916 6337 ext. 1017
lramos@sourceintelligence.com