Corruption
Corruption and money laundering
Every year, an estimated 3,600 billion US dollars are lost from the global economy due to corruption and other criminal activities. This money is needed for the provision of basic services in economically disadvantaged countries. Corruption exacerbates instability of institutions; it leads to mismanagement and the incorrect use of public funds. Switzerland bears responsibility in this – Swiss companies engage in corrupt practices abroad and Swiss banks continue to manage illegally obtained assets or are involved in money laundering scandals.
