Financial Transparency Coalition

Tom Cardamone, Managing Director of Global Financial Integrity, continues his biweekly series of blog posts with TrustLaw, on efforts to repatriate government funds illicitly transferred overseas by corrupt government officials.  Based on new World Bank and United Nations Office on Drug and Crime data, as well as experiences with past repatriation attempts, he notes “This means, shockingly, that

Global Financial Integrity Managing Director Tom Cardamone has written a blog post for the TrustLaw website examining the shortfalls of anti-bribery and anti-corruption compliance efforts at companies around the world. A study showed that a third of firms saw anti-bribery programs as “an example of the governments imposing costly and excessive requirements”, demonstrating a lack of motivation in reducing unethical business practices. Referencing the effectiveness of penalties for corrupt practices, Cardamone writes:

An even closer read of the stories behind these fines shows that seldom do they make a significant dent in the profits of the firms involved and rarely...