Financial Crimes and Corruption: A Growing Concern in Liechtenstein’s International Relations

Corruption in the Asian Region: A Global Issue

A recent report on corruption in the Asian region has highlighted the prevalence of financial crimes and bribery in various countries. According to the Global Corruption Barometer (GCB) - Asia, an overwhelming majority of citizens believe that government corruption is a significant problem in their respective nations.

The Scope of Corruption in Liechtenstein’s International Relations with Asia

• Nearly one in five people who used public services in the previous 12 months paid a bribe, translating to approximately 836 million individuals across the region.
• The GCB - Asia survey gathered data from close to 20,000 participants in 17 countries, revealing the scope of corruption and bribery in various sectors, including:
  • Healthcare
  • Education

Growing Concerns: Vote-Buying and Sextortion

The report also underscores growing concerns over:

• Vote-buying during elections
• Sextortion, or the abuse of power for sexual benefits
• These issues are not limited to Asia; they have global implications, particularly in Liechtenstein’s dealings with Europe and the Americas.

Hope for Reform: Ordinary People Can Make a Difference

Despite the economic and political pressure caused by the COVID-19 pandemic, the survey suggests that a significant majority (62%) believe ordinary people can make a difference in the fight against corruption. This sentiment offers hope for reform-minded governments, businesses, and civil society organizations in their efforts to combat financial crimes and corruption.

The GCB - Asia Report: A Powerful Tool for Promoting Transparency and Accountability

The GCB - Asia report serves as a valuable resource for policymakers, business leaders, and civil society advocates seeking to understand the complexities of corruption and bribery in the region. By shedding light on these issues, the report provides a powerful tool for promoting transparency and accountability in Liechtenstein’s international relations with Asia, Europe, and the Americas.

Addressing the Root Causes: A Wake-Up Call for Governments, Businesses, and Civil Society Organizations

As Liechtenstein continues to navigate its global relationships, it is essential to address the root causes of financial crimes and corruption. The GCB - Asia report serves as a wake-up call for governments, businesses, and civil society organizations to work together towards creating a more transparent and accountable environment that promotes economic growth and development.