What is the News?
The Bribery Risk Matrix 2021 has been released by TRACE, an anti-bribery standard-setting organization.
The risk matrix measures the likelihood of bribe demands in 194 jurisdictions.
About Bribery Risk Matrix 2021
Aim: To measure business bribery risk in 194 countries, territories, and autonomous and semi-autonomous regions.
First Published in: The index was originally published in 2014 for more reliable and nuanced information about the risks of commercial bribery worldwide.
Parameters: The matrix is based on four factors — i). Business interactions with the government, ii). Anti-bribery deterrence and enforcement, iii). Government and civil service transparency, iv). Capacity for civil society oversight, which includes the role of the media.
Source of Data: Leading public interest and international organisations, including the United Nations, World Bank, V-Dem Institute at the University of Gothenburg and World Economic Forum.
Significance: Helps companies to assess the likely risk of bribe demands in each country and to design compliance and due diligence programs tailored to that risk.
What are the key findings?
– India has slipped to 82nd position in 2021 which is five places down from 77th rank in 2020.
– India fared better than its neighbors – Pakistan, China, Nepal and Bangladesh. Meanwhile, Bhutan secured 62nd rank.
– Lowest bribery risk: Denmark, Norway, Finland, Sweden and New Zealand.
– Highest commercial bribery risk: On the other hand, North Korea, Turkmenistan, Venezuela and Eritrea.
Source: This post is based on the article “India stands at 82 in global bribery risk rankings, dips by five spots” published by Indian Express on 19th Nov 2021.
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