Delays in establishing public registers and accessibility barriers undermine EU’s progress in ending kleptocratic abuse of anonymous companies.
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The COVID-19 pandemic, the climate crisis and growing security threats across the globe are fuelling a new wave of uncertainty. In an already unstable world, countries failing to address their corruption problems worsen the effects. They also contribute to democratic decline and empower authoritarians.
This year’s Corruption Perceptions Index (CPI) reveals that 124 countries have stagnant corruption levels, while the number of countries in decline is increasing. This has the most serious consequences, as global peace is deteriorating and corruption is both a key cause and result of this.
Corruption and conflict feed each other and threaten durable peace. On one hand, conflict creates a breeding ground for corruption. Political instability, increased pressure on resources and weakened oversight bodies create opportunities for crimes, such as bribery and embezzlement. Unsurprisingly, most countries at the bottom of the CPI are currently experiencing armed conflict or have recently done so.
On the other hand, even in peaceful societies, corruption and impunity can spill over into violence by fuelling social grievances. And siphoning off resources needed by security agencies leaves states unable to protect the public and uphold the rule of law. Consequently, countries with higher levels of corruption are more likely to also exhibit higher levels of organised crime and increased security threats.
Corruption is also a threat to global security, and countries with high CPI scores play a role in this. For decades, they have welcomed dirty money from abroad, allowing kleptocrats to increase their wealth, power and geopolitical ambitions. The catastrophic consequences of the advanced economies’ complicity in transnational corruption became painfully clear following Russia’s full-scale invasion of Ukraine.
In this complex environment, fighting corruption, promoting transparency and strengthening institutions are critical to avoid further conflict and sustain peace.