Top Highlights

• he World Economic Forum estimates the global cost of corruption is at least $2.6 trillion, or 5 per cent of the global gross domestic product (GDP).
• the global cost of corruption is at least $2.6 trillion, or 5 per cent of the global gross domestic product (GDP), adding that, according to the World Bank, businesses and individuals pay more than $1 trillion in bribes every year.
• Regrettably, there is currently no coordinated strategy to gain the necessary leverage to disrupt the illicit siphoning of money by leaders and their foreign business partners, or to break the link between corruption and conflict.
• “Corruption robs schools, hospitals and others of vitally needed funds,” he said, adding that it also rots institutions - even as public officials enrich themselves or turn a blind eye to criminality – while also depriving people of their rights, driving away foreign investment and despoiling the economy.
• “Corruption breeds disillusion with Government and governance and is often at the root of political dysfunction and social disunity,”

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