Curbing Corruption, Bribery, and Money Laundering in public procurement processes: An international Perspective

Author:

Magakwe Jack

Abstract

Corruption, bribery, and money laundering represent some of the most pervasive and damaging global issues facing societies today. Corrupt and illicit activities erode trust in public institutions, hinder economic growth, and fuel organized crime. This chapter will delve into the multifaceted challenges of corruption, bribery, and money laundering globally and explore the various strategies and initiatives to combat them. The chapter reflects on understanding the complexity of corruption, bribery, and money laundering from a global perspective. During the past century, many scholars conducted research focused on anti-corruption measures, but limited attention was devoted to exploring why corruption and money laundering still increase despite the strong legislative and institutional capabilities to curb corrupt practices. This chapter also explores the ability of AI as a tool to curb corruption and minimize the risk factors of corruption in various institutions globally. It was recommended that comprehensive due diligence and risk mitigation practices should be implemented together, engaging in collective action, advocating for policy reforms, and supporting initiatives that strengthen the rule of law to prevent bribery and money laundering.

Publisher

IntechOpen

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