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Corruption costs $1.6tn, UN says
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Addicted to MacNN
Join Date: Feb 2008
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You just couldn't make it up :
The United Nations (UN) has said political corruption costs governments about $1.6tn (£951bn) every year.
The money is lost in public assets moved across borders via money-laundering or undeclared holdings.
The figure comes as the UN, World Bank and other watchdog meet in Doha, Qatar, to try to give a four-year-old anti-corruption agreement some teeth.
But hopes are low of countries agreeing to independent reviews into countries' finances to look for missing money.
Countries such as China, Iran and Russia are resisting such measures.
Two previous summits have failed to expand the powers of the UN's anti-corruption convention.
"We hope to have a commitment to action," said Ngozi Okonjo-Iweala, a former Nigerian finance minister who is now managing director of the World Bank. "We've had a lot of talk. Now we'd like to see some action."
Unreal.
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Games Meister  Join Date: Aug 2009
Location: Eternity
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Nigerian in charge of a bank. Isn't there an easy joke there?
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Professional Poster
Join Date: Jan 2000
Location: Detroit
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all your banks belong to Nigeria?
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Addicted to MacNN
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I guess all those Nigerian emails were real.
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"Faster, faster! 'Till the thrill of speed overcomes the fear of death." - HST
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Clinically Insane
Join Date: Jul 2005
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Uh oh. Sounds like the OECD are behind this.
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Been inclined to wander... off the beaten track.
That's where there's thunder... and the wind shouts back.
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Clinically Insane
Join Date: Apr 2007
Location: Iowa, how long can this be? Does it really ruin the left column spacing?
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I bet the IRS is behind it.
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Addicted to MacNN
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Originally Posted by The Final Dakar 
Nigerian in charge of a bank. Isn't there an easy joke there?
China, Iran and Russia probably threw away Okonjo-Iweala's letters the second they got them. Managing director of the World Bank? Yeah, I've heard that one before...
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"One ticket to Washington, please. I have a date with destiny."
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Addicted to MacNN
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I think that Nigerian owes me some money.
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I'm a bird. I am the 1% (of pets).
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Professional Poster
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I don't believe it. One of the most corrupt organizations claiming other organizations are corrupt.
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Baninated
Join Date: Mar 2008
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Roses are red, violets are blue, all of my corrupt bank and financial institute are belong to you.
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Mac Elite
Join Date: Jan 2003
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mattyb>
Do you have a link to the full article?
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Clinically Insane
Join Date: Nov 1999
Location: 888500128, C3, 2nd soft.
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Clinically Insane
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Originally Posted by Spheric Harlot
There ya go. Wherever these words...
There is also disagreement over how best to implement the tracking of money, because of tax havens and secretive banking codes in some nations.
...pop up there's the OECD somewhere behind it. And the OECD are pretty much one of the most evil organisations on the face of the earth.
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Been inclined to wander... off the beaten track.
That's where there's thunder... and the wind shouts back.
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