Research released in April by the World Bank Institute (WBI) revealed more than $1 trillion is paid annually in bribes in both developed and developing countries. The Bank issued calls for countries to stamp out corruption, with the WBI’s director for governance, Daniel Kaufmann, warning that corruption was not simply a problem in developing countries, but rather a global challenge.
 
As the year draws to a close and the first anniversary of signing of the convention approaches, The Bank urges all countries to ratify the United Nation’s Anti-Corruption Convention.