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January 21, 2007


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In terms of economic impact, the debilitating affect of corruption is tangible: More than 5% of global gross domestic product, or $2.6 trillion, was smuggled, used for bribes or stolen from taxpayers in the past year, says the World Bank in a recent report. For honest companies, moving from a low corruption climate to one where corporate and government misdeeds are more prevalent can represent as much as a 20% additional tax on top of the normal costs of doing business.

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