Corruption—defined as abuse of public office for private gain—is one of the greatest challenges facing the world today. Bribery, fraud, vote buying, illegal political contributions, and misappropriation of funds are examples of this global phenomenon. Corruption is estimated to add 10 percent or more to the costs of doing business in many parts of the world; the World Bank estimates that bribery alone has become a $1 trillion industry. Moreover, corruptive behavior has become an increasing problem of world trade that disturbs international competition and erects major obstacles for economic and social development in many countries of the Southern Hemisphere. Corruption also appears to be embedded within complex structural social problems, such as human trafficking, organized crime, and terrorism.

Once tolerated as an unfortunate by-product of ...

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