The world's 28 least corrupt countries, and where Singapore ranks

[jw5]

12th least corrupt: Hong Kong, CPI score: 76

In spite of the territory's high CPI score, which has declined by only one point since 2020 and stayed the same from 2021 to 2022, Transparency International has dubbed Hong Kong a "transnational corruption hub". The Special Administrative Region of China has failed to confront foreign bribery and shore up rules and regulations around shell companies, which have exploded in number in recent years and can easily be used to mask large-scale money laundering schemes.
The Pandora Papers also revealed that companies in Hong Kong have shielded the financial dealings of high-level people such as oligarchs and billionaires.

 

[jw5]

Joint 10th least corrupt: Luxembourg, CPI score: 77

While Luxembourg has taken important steps towards increased transparency, including the launch of a public beneficial ownership register in 2019, the tiny European country remains a secretive tax haven where foreign entities can hide their cash with relative ease. More than 80% of the country's investment funds still haven't declared a beneficial owner to the Luxembourg register, according to Delano, and the LuxLeaks scandal in November 2014 revealed tax rulings between Luxembourg and companies around the world that aimed to reduce their tax payments.
This revelation led to an EU Directive for Whistleblower Protection in March 2019, although nearly half of EU states hadn't written it into their own laws by late 2020. As is the case in many other top-scoring nations, anti-foreign bribery legislation is rarely enforced. Luxembourg's CPI score has increased by one point since last year but is still four points down compared to 2015.

 

[jw5]

Joint 10th least corrupt: Ireland, CPI score: 77

In contrast to many countries on the list, Ireland has been climbing up the rankings, gaining two points between 2020 and 2021 and another three between 2021 and 2022.
The country has robust safeguards in place to counter unethical lobbying and political donations, and passed legislation last year to upgrade its anti-money laundering framework. However, Ireland is still falling short in its anti-corruption drive, says Transparency International.
According to reports, jailed Uzbek socialite Gulnara Karimova laundered between $100 million and $300 million (£74.4m–£221m) through funds based in Dublin, contributing to Ireland's reputation as a "safe haven for dirty money".

 

[jw5]

9th least corrupt: Germany, CPI score: 79

Prior to 2022, Germany maintained its CPI score of 80 for four years in a row. In the latest report, this number has dropped to 79, partly due to the ties between the nation's Climate and Environmental Protection Foundation and the Russian state-owned gas company Gazprom, which Germany had tried to conceal. According to Transparency International, the foundation allegedly influenced state officials on Gazprom's behalf to lobby for the Nord Stream 2.0 pipeline, now suspended due to the Russian war in Ukraine.
This latest controversy comes after German politicians were forced to resign due to their involvement in a face mask scandal, after it was reported that they'd used bribes to broker PPE procurement deals at the start of the COVID-19 pandemic.

 

[True Believer]

S'pore is ranked 4th in the world for crony capitalism. Isn't that a form of corruption when we have the 4th highest % of billionaires with family and personal ties to the Govt? This report was validated by Forbes, IMF and The Economist.

 

[birdie69]

S'pore is ranked 4th in the world for crony capitalism. Isn't that a form of corruption when we have the 4th highest % of billionaires with family and personal ties to the Govt? This report was validated by Forbes, IMF and The Economist.

Luckily to be ranked 4th, despite the minister under investigation in F1 scandal, recent Rideout Road case & extramarital affairs

 

[k1976]

Singapore ish ALWaYS cleaner than clean , whiter than white as usual

 

[k1976]

https://www.theonlinecitizen.com/20...t-corrupt-country-in-asia-fifth-in-the-world/

Cleanest among the clean in Jan2023

 

[k1976]

https://nomadcapitalist.com/expat/least-corrupt-countries-in-asia/

Voted Top Top Number 1 clean country in Asia in July 23

 

[jw5]

8th least corrupt: Netherlands, CPI score: 80

The Netherlands has dropped below 82 for the first time since 2017 this year, with a new CPI of 80. The country is apparently "among the weakest in the nation when it comes to lobbying oversight" and also scored comparatively badly when it comes to battling cross-border corruption. According to Transparency International, "companies or individuals are still almost never brought to court in connection with corruption abroad".
With plum tax arrangements available to foreign companies, the Netherlands is also well on its way to becoming a tax haven. Meanwhile, the country's Court of Audit lodged a complaint against the Ministry of Health, Welfare and Sport in 2021 after noticing irregularities in its COVID-19 spending. The complaint was withdrawn after the Ministry announced it would improve its financial management.

 

[jw5]

7th least corrupt: Switzerland, CPI score: 82

The public sector in Switzerland is far more open and transparent than most other countries, hence its high ranking in the index. The same can't be said about the country's private sector, however. Its banking industry, in particular, is famously secretive. This, combined with lax money laundering regulations and poor whistleblower protections, have long made the nation a magnet for dirty cash.
Switzerland received its lowest ever CPI score in 2022, with Transparency International highlighting the fact that Swiss parliamentarians are allowed to keep paid positions alongside political ventures as a "particular concern".

 

[jw5]

Joint 5th least corrupt: Sweden, CPI score: 83

Sweden has dropped two points since the 2021 rankings. Although it still scores highly, its decreasing CPI could point to "a serious societal trend", according to Transparency International. The regulatory framework used to stop criminals hoarding money in the country is pretty flimsy, and many see the Nordic nation as a soft touch.
Swedbank, which is one of the nation's leading financial institutions, was fined a record $400 million (£289m) in 2020 for its lack of sufficient money laundering controls. Although the country is one of the few nations that has actually implemented EU Directives on money laundering and whistleblower protections by the appointed date, with the Whistleblowing Act coming into force on 17 December 2021, it hasn't had a positive effect on the nation's CPI. What's more, last year's Nordic Business Ethics Survey revealed that the majority of employees in Swedish companies have witnessed some sort of "ethical irregularities" at work.

 

[jw5]

Joint 5th least corrupt: Singapore, CPI score: 83

As Asia's least corrupt country by some margin, Singapore has plenty to be proud of. But its 2022 ranking is the nation's lowest in five years, and a toxic combination of secrecy and minimal financial regulation in the private sector has made the city-state an alluring destination for money launderers. According to Transparency International's regional Asia adviser, Ilham Mohamed, Singapore is also lacking anti-corruption organisations that aren't run by the government, as well as civil spaces for people to expose and speak out against corruption.
Like Hong Kong, Singapore was named and shamed in the 2021 Pandora Papers, which found that law firms and corporate service providers in the country have historically shielded dubious financial dealings on behalf of wealthy clients.

 

[jw5]

4th least corrupt: Norway, CPI score: 84

Norway has lost one point in the latest index, with a current CPI score of 84. According to recent studies, one of the key corruption issues in the country is the lack of transparency when it comes to the ownership of high-value real estate, with around 10,000 properties reportedly owned through companies that are registered in tax havens.
Along with Iceland, Norway also appeared in the aforementioned Fishrot Files as its state-owned bank DNB was shown to have facilitated laundered money for the shell companies from illegal fishing. In May 2021, DNB was fined over $48 million (£35.7m) for flouting Norway's anti-money laundering act.

 

[jw5]

Joint 2nd least corrupt: Finland, CPI score: 87

A relative bastion of openness and transparency, Finland is rightly admired for its low levels of corruption and has maintained its high position for the second year running. In October 2019, however, the OECD Working Group on Bribery blasted the Finnish government for its failure to enforce foreign bribery laws, expressing concern over the country's high acquittal rate for this sort of crime.
With a current CPI score of 87, Finland has lost one point since last year and Transparency International has noted the nation is "yet to address shortcomings in [its] political integrity frameworks".

 

[jw5]

Joint 2nd least corrupt: New Zealand, CPI score: 87

Joining Finland as one of the least corrupt countries on the planet, New Zealand is admired far and wide. But it's certainly not perfect.
Since last year the nation's CPI has fallen from 88 to 87, meaning 2022 is only the third year since 2006 when New Zealand hasn't ranked first or joint first. Transparency International notes that the country is "gradually trending down", identifying factors such as its heavy trade with China – which scores just 45 out of 100 on the index – and the fact that it can be difficult for authorities to trace the true owners of New Zealand-registered trusts.
With Prime Minister Jacinda Ardern resigning from her role earlier this year, it remains to be seen whether the country's ranking will change in the coming years.

 

[myfoot123]

Worse corrupted country once became legalised, it became clean. Many people fell for it.

 

[jw5]

Least corrupt: Denmark, CPI score: 90

Denmark has maintained its position at the top of the rankings since last year and even increased its CPI score from 88 to 90. The nation is lauded the world over for its low levels of corruption. However, as we've seen, even the most virtuous countries have their faults.
Indeed, one of the world's biggest known money-laundering schemes involved a Danish bank, when around €200 billion ($243bn/£175bn) of suspicious money passed through the Estonian branch of Danske Bank between 2007 and 2015. The bank has also been accused of helping Germany's Deutsche Bank to pass more than $600 million (£433m) in suspicious trades through Danske Bank branches in Lithuania over the same time period.
These scandals were allegedly helped along by Denmark's inadequate financial regulation. Although regulations have since been tightened, the nation's anti-bribery laws remain limited. In fact, Transparency International has downgraded Denmark's foreign bribery rating to "little or no enforcement" in the latest report.