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About International Anti-corruption Day
Finance & Banking
Ends: Dec 09, 2023
DESCRIPTION:
The United Nations General Assembly designated December 9 as International Anti-Corruption Day in 2005 to raise awareness of corruption and the Convention's role in combating and preventing it.
Corruption is a complex social, political and economic phenomenon that affects all countries. Corruption undermines democratic institutions, slows economic development, and contributes to governmental instability.
Corruption attacks the foundation of democratic institutions by distorting electoral processes, perverting the rule of law, and creating bureaucratic quagmires whose only reason for existing is the soliciting of bribes.
Economic development slows when foreign direct investment is discouraged, and small businesses within the country often find it impossible to overcome the 'start-up costs' required because of corruption.
International Anti-Corruption Day focuses on the causes of corruption and urges communities to unite to combat it for the good of all.
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