24 Facts About Fraud to Celebrate Our 24th Anniversary

  1. Fraud is costing the UK around £73bn a year. Source: The National Fraud Authority, ‘Annual Fraud Indicator’, (March, 2012) pg. 3.
     
  2. In a survey of more than 1,000 executives, almost one in five claimed to have lost business due to a competitor paying bribesSource: Ernst & Young, ‘Corruption or Compliance – weighing the costs, 10th Global Fraud Survey’ (2008) pg. 5.
     
  3. In a survey of more than 2,300 staff in European companies, nearly 1 in 5, regardless of grade, consider it acceptable to pay bribes to win or retain business. Source: Ernst & Young, 'European Fraud Survey 2011: Recovery, Regulation and Integrity’ (2011).
     
  4. More than half of the 70,000 people interviewed in 69 countries for TI’s 2009 Global Corruption Barometer said they were willing to pay more to buy from corruption-free companies. Source: Transparency International, ‘Global Corruption Barometer’ (2009), pg. 16.
     
  5. 75% of all those interviewed agree that there is a commercial advantage to ethical behaviorSource: Ernst & Young, ‘European Fraud Survey 2011: Recovery, Regulation and Integrity’ (2011).
     
  6. The British Virgin Islands got more foreign direct investment in 2013 than the major emerging economies of India and Brazil combined. Source: The United Nations, Global Investment Trends Monitor UNCTAD report, 2014.
     
  7. Private-sector corruption in developing countries is a tax on growth, costing at least $500 billion a year — more than three times all foreign assistance in 2012. Source: The Center for Strategic and International Studies,The Costs of Corruption, 2014.
     
  8. Nearly half of workers across Europe, the Middle East, Africa and India think bribery and corruption are acceptable ways to survive an economic downturn. Source: Ernst and Young, Navigating today’s complex business risks Europe, Middle East, India and Africa Fraud Survey 2013', pg.12.
     
  9. More than 40 percent of employees at board and senior manager level said that sales or cost numbers had been manipulated by their company. This included reporting revenue early to meet short-term financial targets, under-reporting costs to meet budget targets, and requiring customers to buy unnecessary stock to meet sales targets. Source: Ernst and Young, 'Navigating today’s complex business risks Europe, Middle East, India and Africa Fraud Survey 2013', pg. 8. 
     
  10. Fewer than half of respondents knew that their company’s policy contains guidance on gifts or hospitality, and less than a quarter knew of policies on political contributions. More than half of respondents do not know whether their company has specific procedures to guide dealings with government officials. Source: Ernst and Young, 'Navigating today’s complex business risks Europe, Middle East, India and Africa Fraud Survey 2013', pg. 17.
     
  11. Illicit Financial Flows, including corruption, bribery, theft and tax evasion, cost developing countries $1.26 trillion per year, which is equivalent to the economies of Switzerland, South Africa and Belgium combined. This amount of money could lift the 1.4 billion people living on less than $1.25 a day above this threshold for at least six years. Sources: Global Financial Integrity, ‘Illicit Financial Flows from Developing Countries over the Decade Ending 2009’ (2011) pg. i; World Bank, ‘World Bank Indicators Database’ (2011); Oxfam, Discussion papers, ‘A safe and just space for humanity' (2012), pg. 5.
     
  12. Over 12 months, one in four people paid a bribe when they came into contact with one of nine institutions and services, from health to education to tax authorities. Source: Transparency International, Global Corruption Barometer  (2010), surveying 91,500 people across 86 countries.
     
  13. Nearly three quarters of the 178 countries in the Corruption Perceptions Index score below five, on a scale from 10 (highly clean) to 0 (highly corrupt), suggesting a perception of widespread corruption among public officials. Source: Transparency International, Corruption Perceptions Index (2010).
     
  14. According to the EU Commissioner for Home Affairs, an estimated €120 billion is lost to corruption each year throughout the 27 EU member states. Source: EUobserver, '€120 billion lost to corruption in EU each year', 06/03/13. 
     
  15. In Teodorín Obiang’s previous role as the minister for agriculture and forestry in Equatorial Guinea, he was earning a salary of around £2,700 a month. Nevertheless, between 2004 and 2011, his total expenditure was US $314m, over 4,000 times his official salary. Sources: Guardian, 'France impounds African autocrats' 'ill-gotten gains', (06/02/2012) and Independent, 'Teodoro Nguema Obiang: Coming To America (to launder his millions?)', (16/06/12).
     
  16. The wealth accumulated by Libya, Egypt and Tunisia’s leaders stands at an estimated $190 billionSource: TI paper based on news reports (2011).
     
  17. General Sani Abacha of Nigeria is suspected to have looted between $3 billion to $5 billion of public money. Source: Basel Institute of Governance/ICAR, “Managing Proceeds of Asset Recovery: The Case of Nigeria, Peru, The Philippines and Kazakhstan” (2009), pg. 7.
     
  18. Ferdinand Marcos of the Philippines siphoned off between $5 to $10 billion during his reign in the Philippines from 1965 to 1986. Source: Basel Institute of Governance/ICAR, “Managing Proceeds of Asset Recovery: The Case of Nigeria, Peru, The Philippines and Kazakhstan” (2009), pg. 12.
     
  19. The level of assets stolen by corrupt leaders and moved to offshore accounts is estimated at $180 billionOnly $5 billion has ever been returnedSource: CCFD, Comité Catholique contre la Faim et pour le Développement (2007), pg. 1.
     
  20. 98% of crimes reportedly go unpunished in Mexico, where drug-related violence cost the lives of an estimated 40,000 people from 2006-2011. Source: Monterrey Institute of Technology, Mexico (2010).
     
  21. In Argentina and Mexico only 15% of the people believe that institutions will act effectively in cases of corruptionSource: The World Justice Project, 'Rule of Law Index' (2011) pgs. 41, 79.
     
  22. An earthquake in Turkey killed 11,000 people in 1999: over half of all structures failed to comply with building regulations. Source: Transparency International, Global Corruption Report:Climate Change (2011), pg. xxxi.
     
  23. Four former Shanghai city officials have been jailed for corruption in connection with a fire in a high-rise block of flats that killed 58 people. Source: BBC News, 'Shanghai officials jailed over deadly high-rise fire', (02/08/11).
     
  24. A fire at a nursery killed 47 children in Mexico in 2009. The state-funded nursery was privately run by the wives of two top local officials and an influential businessman. It had passed federal safety tests only 10 days previously — despite allegedly not meeting necessary criteria. Source: Transparency International webiste, True Stories, 'Who is to blame?'