Source: Christian Science Monitor
by staff
“Two years ago, a report by the European Parliament estimated that strengthening the rule of law and trust in public institutions would reduce corruption and boost Europe’s economic output by more than $61 billion a year. Now the European Union, which loses an estimated $1 trillion a year to corruption, is finalizing a new directive to impose stiffer penalties on individuals and companies that engage in fraud, money laundering, tax evasion, and other forms of corruption. These actions are worth highlighting because leadership of a decadeslong global struggle against graft may be shifting to Europe from the United States. In just one month, the Trump administration has rolled back long-standing measures to counter fraud and promote transparency. Notably, it suspended a historic measure that inspired much of the world to tackle corruption: the Foreign Corrupt Practices Act, or FCPA.” (02/21/25)