UN Convention against Corruption Current Affairs - 2019
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International Anti-Corruption Day (IACD) is observed every year across world on December 9 to raise public awareness of corruption and what people can do to fight it. Observance of this day aims to promote and strengthen measures to prevent and combat corruption more efficiently and effectively. It also highlights role of United Nations Convention against Corruption in combating and preventing it.
Corruption is serious societal crime that undermines social and economic development in all societies. No country, region or community is immune from corruption. According to United Nations Development Programme (UNDP), every year $1 trillion is paid in bribes while an estimated $2.6 trillion are stolen annually through corruption – a sum equivalent to more than 5% of global GDP. In developing countries, funds lost to corruption are estimated at 10 times amount of official development assistance.
International Anti-Corruption Day was instituted by UN General Assembly (UNGA) by passing resolution 58/4 of October 31, 2003. It was adopted to raise people’s awareness of corruption and role of United Nations Convention against Corruption (UNCAC) in combating and preventing it. The UNCAC is the first legally binding, international anti-corruption instrument that provides a chance to mount a global response to corruption.