Corruption hurts our societies. This expert explains how to fight it

Corruption is a pervasive issue that undermines societies, economies, and governance. Defined as the abuse of entrusted power for personal gain, it has far-reaching consequences that go beyond financial losses. Understanding its impact and adopting strategies to fight it are critical to creating more equitable and sustainable societies.

Globally, corruption costs an estimated $3.6 trillion annually in bribes and stolen funds, with an additional $1.6 trillion lost to money laundering. These staggering figures only scratch the surface of its broader impact. Corruption diverts resources from critical services and societal needs. For example, experts estimate that healthcare systems worldwide lose $500 billion each year to corruption, depriving people of necessary medical care and lifesaving resources.

Addressing corruption requires a multifaceted approach. Ferreira Rubio, a global anti-corruption expert, emphasizes the importance of individual courage. The power to resist corrupt practices begins with the ability to say no, even when it feels isolating. Upholding personal integrity and refusing to participate in unethical agreements can set a powerful example and disrupt corrupt systems.

Organizations like the World Economic Forum’s Partnering Against Corruption Initiative are leading the charge against systemic corruption. By fostering collaboration among businesses, governments, and civil society, these initiatives aim to promote transparency and accountability across industries. Tackling corruption on a global scale requires multi-stakeholder approaches to address the root causes and create sustainable change.