The FIFA scandal reminds us that corruption remains embedded right at the top of some of the world’s institutions. And it’s not only FIFA: the almost daily reports of fines for the major Western banks for failing to prevent money laundering, or for foreign exchange and interest rates manipulation -- crimes dating back to the financial crisis -- show the extent to which corruption is part of the normal operating mode of transnational institutions, whether public or private.
Entries in G20 Anti-Corruption Action Plan (4)
In his call for the establishment of an international anti-corruption agency during last week’s Economic Crime Conference in Cambridge, UK (“We must create a global force to fight corruption”), Alexander Lebedev put forward some convincing arguments about how putting a stop to corruption will have huge benefits for the economy and society. He’s right -- getting governments to work together to enforce the law more rigorously is a critical part of achieving that.
As the G20 Anti-Corruption Working Group meets in 2014 under the chairmanship of Australia, it is important that the countries make progress on their commitments detailed in the 2013-2014 G20 Anti-Corruption Action Plan.
The Anti-Corruption Ethics and Compliance Handbook for Business is ready, and its authors at the Organisation for Economic Co-operation and Development (OECD), The United Nations Office on Drugs and Crime (UNODC) and the World Bank hope it provides helpful guidance in the global effort to eradicate corrupt practices.