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Editors

Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
Senior Editor

Richard L. Cassin
Editor at Large

Elizabeth K. Spahn
Editor Emeritus

Cody Worthington
Contributing Editor

Julie DiMauro
Contributing Editor

Thomas Fox
Contributing Editor

Marc Alain Bohn
Contributing Editor

Bill Waite
Contributing Editor

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

How Big Is ‘Grand’ Corruption?

Shruti Shah,  a senior policy director at Transparency International-USA, writing in today’s Huffington Post, said:

“Grand Corruption” by public officials is a problem that has received increasing attention in recent years, particularly following the Arab Spring. The 2007 report by the Stolen Asset Recovery (StAR) Initiative of the World Bank and UNODC estimates that money associated with bribes received by public officials from developing and transition countries to be somewhere between $20 and $40 billion per year. The same report underscores that these stolen assets are often hidden in the financial centers of developed countries. These illicit financial flows constitute a massive outflow of wealth from developing countries and undermine development and growth efforts in these countries.

‘Pushing Forward G8’s Anti-Corruption Agenda’ by Shruti Shah can be viewed here.

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