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Know your contractors: transparent ownership reduces corruption

Procurement is at the heart of the work that the World Bank and other international development banks do. Countries borrow from these multilateral organisations to develop the public works and services their citizens need: such as healthcare, education, sanitation and infrastructure. Through public procurement, countries use the borrowed funds to acquire expertise, labour and supplies […]

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Deutsche Bank settlement: does the punishment fit the crime?

Germany’s biggest bank, Deutsche Bank has agreed to pay a record US$2.5 billion in fines to US and UK authorities after one of its subsidiaries pleaded guilty to wire fraud for its role in manipulating LIBOR. This is more than your everyday bank scandal: LIBOR has an impact on millions of people, if not billions […]

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UK company transparency: one less place to hide

It’s finally happened. UK legislation requiring the true owners of UK companies to be made public, received the final sign off in Parliament last week. Under the new law, UK-registered companies must submit information on their true owners – such as full name and nationality – to Companies House which up until now has not […]

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Secrecy breeds corruption

  This week the New York Times is running a series of hard-hitting investigative reports into who is buying luxury apartments in a single skyscraper overlooking Central Park in New York City, called Time Warner Center, and how they are doing it. It has highlighted a dubious bunch of big spenders allegedly enjoying the proceeds […]

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Northern shadows: Norway doesn’t always practise what it preaches

Norway regularly features near the top of rankings for quality of governance, health and education, including Transparency International’s Corruption Perceptions Index. In 2014 it was ranked by this index as the fifth cleanest country in the world, out of 175 countries. It is one of the few resource-rich countries that have managed to escape the resource curse, […]

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Fighting corruption head-on in South-East Asia

When the leaders of the 10 nations that make up the Association of South-East Asian Nations (ASEAN) meet in Malaysia in April for the 26th ASEAN Summit, they need to be bolder in their approach to combatting corruption. Corruption will hold back investment in the region and stifle growth in both the public and private […]

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Redefining success: incentives for cultural change in banks

Despite the bailouts and regulation after the 2008 financial crisis, unethical behaviour at banks has cost shareholders close to US$10 billion over the past two years in the form of fines. No wonder there is fierce competition on both sides of the Atlantic, particularly now as banks are beginning to report their results, over diminishing […]

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Lives on the line as Serbia battles healthcare corruption

A number of doctors and a head nurse at a hospital in Nis, Serbia’s third largest city, were arrested last month for allegedly accepting bribes of up to €13,000 and using their networks to secure healthcare jobs for relatives. Such news echoes results from Transparency International’s 2013 Global Corruption Barometer, which revealed that 81 per […]

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OECD sheds light on transnational corruption

This week, the Organisation for Economic Cooperation and Development (OECD) published a ground-breaking report that dissects the massive and mostly hidden phenomenon of transnational corruption. Looking at more than 400 bribery cases across 41 countries that amounted to US$13.8 million per bribe, the report gives a glimpse inside the shadowy world of corrupt practices by […]

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Sub-Saharan Africa: corruption still hurts daily lives

Once again, the Corruption Perceptions Index results are not fundamentally different from previous years: the majority of African countries still have a score of less than 50 per cent, which in our view depicts a situation of endemic corruption. In a continent with high level of economic growth rates (compared to many parts of the […]

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