Financial Transparency Coalition

Foreign bribery in Russiais a huge problem for the country’s economy. Investors are threatening to flee in droves in the face of ever increasing official depravity and the tightening of domestic laws on bribery abroad. Transparency International estimates that the total annual amount paid in bribes inRussia is worth $300 billion—equivalent to the GDP of Denmark. Global Financial Integrity estimates that the country lost an average $47 billion in illicit financial flows per year, a number which money transferred abroad stemming from tax evasion, corruption, and trade mispricing. Corruption has become an endemic characteristic of Russia’s public sector....