In news– Bribery Risk Matrix 2021 has been released by the TRACE which is an anti-bribery standard setting organisation.
About Bribery Risk Matrix–
- It measures business bribery risk in 194 countries, territories, and autonomous and semi-autonomous regions.
- It was originally published in 2014 to meet a need in the business community for more reliable and nuanced information about the risks of commercial bribery worldwide.
- Its ranks are based on four factors —
- Business interactions with the government.
- Anti-bribery deterrence and enforcement.
- Government and civil service transparency.
- Capacity for civil society oversight which includes the role of the media.
- Over the past 10 years, the business bribery risk environment worsened significantly in countries that also experienced democratic backsliding: Egypt, Venezuela, Turkey, Poland and Hungary.
- In 2021, North Korea, Turkmenistan, Venezuela and Eritrea pose the highest commercial bribery risk, while Denmark, Norway, Finland, Sweden and New Zealand present the lowest.
- Over the past five years, the business bribery risk environment in the United States worsened significantly when compared with global trends.
- From 2020 to 2021, all of the Gulf Cooperation Council (GCC) countries saw an increase in commercial bribery risk.
- Over the past five years, the countries that have shown the greatest trend toward improvement in the factors underlying commercial bribery risk are Uzbekistan, the Gambia, Armenia, Malaysia and Angola.
- In 2020, India ranked 77 with a score of 45 while in 2021, the country stood at 82nd position with a score of 44.
- India fared better than its neighbours – Pakistan, China, Nepal and Bangladesh. Bhutan, meanwhile, secured 62nd rank.
About TRACE International–
- It is non-profit business association founded in 2001 to provide multinational companies and their commercial intermediaries with anti-bribery compliance support.
- TRACE is financed by its members and does not accept any government funding.
- It leverages a shared-cost model whereby membership dues are pooled to develop anti-bribery compliance tools, services and resources.