Corruption acts like an invisible tax that unfairly penalizes those least able to bear the burden, said Philippe Lévy , the Chairman of Transparency International, Switzerland, and a former ambassador.
According to the IMF, crime and corruption cost $1,500 billion a year, he said. 'We are all victims of unethical behaviour, as taxpayers, consumers, producers, shareholders, but also as citizens in undemocratic countries where human rights are violated and where democratic institutions do not work properly.' Till recently, governments had not taken the problem seriously and bribes paid to foreign officials had even been tax deductible.
Lévy believed that without the efforts of Transparency International, conventions against corruption, such as those of the OECD and the Council of Europe, might never have seen the light of day. The challenge now was to put them into practice.
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