© 2021 Transparency International. All rights reserved. This document should not be considered as representative of the Commission or Transparency International’s official position. Neither the European Commission,Transparency International nor any person acting on behalf of the Commission is responsible for the use which might be made of the following information. The Anti-Corruption Helpdesk is operated by Transparency International and funded by the European Union. Transparency International Anti-Corruption Helpdesk Answer Corruption and economic crime Author: Jorum Duri, [email protected] Reviewers: Maira Martini and Matthew Jenkins, Transparency International Date: 15 March 2021 Historically, corruption has been seen as an enabler of some types of economic crime and organised criminality, for example through payment of bribes to law enforcement agencies or undue influence in decision-making. However, modern forms of corruption – which the paper interprets as usually transnational in nature – are even more intertwined with economic crime. Both sets of crimes share similar drivers, rely on similar mechanisms to move and launder illicit funds, and deprive societies of much needed financial resources, threatening not only economic and social stability of other countries across the globe, but also the rule of law and democracy. Due to these common characteristics, certain instruments to combat corruption and economic crime could be productively brought into closer alignment. For instance, a public register on beneficial ownership may prevent the use of shell companies to launder proceeds from both corruption and economic crime. Moreover, international cooperation is required in the investigation and prosecution of both corruption and economic crime schemes, as well as for asset recovery purposes. Transparency in political funding may also ensure that political and electoral campaigns are not tainted by proceeds of corruption and economic crime, and could help prevent capture of state institutions.
Corruption and economic crime
Jul 06, 2023
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