Corruption - WESTERN EUROPE is the worst (or the best!!) according to TI CPI
On 28 January 2021 Transparency International Launched the 2020 edition of its Corruption Perceptions Index (CPI), which ranks 180 countries and territories by their perceived levels of public sector corruption, according to experts and business people.
The CPI is a helpful tool for businesses and public sector organisations to use in assessing the corruption risk level of the public sector in a particular jurisdiction.
A novel and significant factor impacting this year's results is the COVID-19 pandemic, which, according to Transparency Internal,
- "Is not just a health and economic crisis, but a corruption crisis as well, with countless lives lost due to the insidious effects of corruption undermining a fair and equitable global response."
The CPI highlight that areas of significant risk continue to exist within Western Europe. Western Europe is the highest-scoring region on the CPI when viewed as a whole and despite ongoing efforts to strengthen Europe's anti-corruption legislation (such as the adoption by Member States of the EU's Sixth Anti-Money Laundering Directive in 2020)
Also, in the last year, there remains a significant amount of private sector bribery and bribery risk, as demonstrated by many high profile cases against companies in the automotive, aviation and banking industries.
Therefore, companies need to be aware of such risks when conducting business both domestically and abroad, particularly in light of the increasing prevalence of anti-bribery and corruption legislation with extraterritorial effect.
Corruption risks may also be heightened currently as a result of the ongoing COVID-19 pandemic, making it essential for companies to have in place comprehensive compliance frameworks which are informed by up-to-date risk assessments.
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