Are the Happy Days Coming to an End in the Land of Milk and Honey?

We had the privilege to host Transparency International (TI) during their one-day visit here in Finland. TI’s Managing Director Cobus de Swardt gave a highly inspirational speech about current global trends in anticorruption efforts, and we wanted to take this opportunity to share three key takeaways from his speech:

MD de Swardt’s thoughts raised a lot of questions and comments in the audience. This is not surprising considering that corruption and bribery have a global price tag of 5% of global GDP, which equals USD 2.6 trillion. Corruption is, indeed, a concern to all companies, as 35% of the occupational fraud cases derive from corrupt activities.

Thus, it is clear that corrupt activities cost money and cause unpredictability and inequality. It is equally evident that we in Finland need to continue our race to keep up the reputation capital we have gained over the years as the least corrupt nation and to add our voice to the battle against corruption and bribery.