The Cost of Corruption on Global Business

February 6, 2014 - The cost of corruption is a heavy toll that is levied on the global economy, private companies and people around the world. On a macro level, recent data suggests that the cost of corruption equals more than 5% of global GDP ($2.6 trillion), and corruption increases the cost of doing business up to 10% globally, according to the World Economic Forum and the World Bank, respectively. When an organization engages in corrupt behavior, the costs associated extend well beyond what can be found on a balance sheet, such as fines and penalties, but can also include lost business by way of sanction or debarment, reputational damage, and organizational turmoil.