The world will never be a perfect place, but that doesn’t mean we don’t try to make it better. And to do that we must first start by exposing the injustices, one of them being the irregularities and corruption in global development.
According to analysis by The ONE Campaign “at least $1 trillion is being taken out of developing countries each year through a web of corrupt activity that involves shady deals for natural resources, the use of anonymous shell companies, money laundering and illegal tax evasion.”9 World Bank corroborates that by reporting that “$2.7 billion a day, or more than a trillion dollars a year, is paid in bribes.”10
The Global Fund has published irregularities of at least $44 million for the years between 2002 and 2008. This includes $11 million in fraud, $28 million in unsupported or ineligible grants, $2.9 million in unaccounted income/ drugs, and $1.7 million in other losses. There are indications that the actual amount could be even higher as much as $55 million.11
The following is a graph showing the breakdown of the irregularities from the Global fund.
Illicit finance is a growing problem in developing countries. A study done by Global Financial Integrity, the Washington-based group that exposes financial corruption, showed that in 150 developing countries a total of $946.7 billion was lost in 2011, an increase of 13.7 percent from the prior year. This far outstrips the aid being sent to these countries. For every $1 sent in assistance, $10 is already leaving the country.12
The following is the results of the Corruption perception index, which shows the public perception of corruption within the various nations across the world.