Corruption Starts with Excuses, According to UNODC Report
Translated from Malay, summarized and contextualized by DistantNews.
At a glance
News
Official statement
Context piece
- Fraud and corruption contribute significantly to the global economy, accounting for approximately 5% of global GDP, estimated between $2.6 trillion and $3.6 trillion annually.
- This highlights the widespread and serious nature of fraud and corruption, involving individuals from various societal levels.
- Effective prevention requires understanding the underlying factors that drive individuals to commit such acts.
Fraud and corruption represent a substantial drain on the global economy, contributing an estimated 5% to global Gross Domestic Product (GDP). This figure translates to an annual economic impact ranging from approximately $2.6 trillion to $3.6 trillion, according to the United Nations Office on Drugs and Crime (UNODC).
These statistics underscore the pervasive and serious nature of fraud and corruption, which involve individuals across all strata of society. The sheer scale of these illicit activities indicates a systemic challenge that affects economies worldwide.
To effectively combat and prevent fraud, it is crucial to first understand the motivations and factors that lead individuals to engage in such behavior. Addressing the root causes is essential for developing robust prevention strategies.
fraud and corruption contribute approximately 5 percent of global Gross Domestic Product (GDP), equivalent to around US$2.6 trillion (RM11.18 trillion) to US$3.6 trillion per year (RM15.5 trillion).
DistantNews Editorial
Originally published by Utusan Malaysia in Malay. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.
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