The damage and inefficiency caused by corruption, in either financial or social terms, should not be underestimated. The World Bank has estimated that more that US$ 1 Trillion is paid in bribes annually. See World Bank, “The Costs of Corruption” (8 April 2004). An Ernst & Young survey of executives indicated that almost half of … Read more »
Tag: Law Commission
UK’s Law Commission on Reforming Bribery
The United Kingdom’s Law Commission has published its recommendations in a new report on reforming the bribery laws in the United Kingdom. The LC Report 313 on reforming bribery (.pdf) states: Bribery has been contrary to the law at least since Magna Carta declared, “We will sell to no man…either justice or right”. Most people … Read more »