In normal times it is estimated that $75 Trillion is spent globally on healthcare, of which, approx 7% is lost to corrupt practices. For procurement, the money lost to corrupt practices is estimated at 25%. During our conversation, Rachel reveals some of the real global examples of the appalling bribery and corruption taking place right now, during the COVID-19 pandemic, that are diverting vital resources away from saving lives.
Rachel shares her thoughts on how to apply transparent business practice in order to address bribery and corruption – now and in the future. Rachel suggests very practical steps for business to take: “follow your normal anti-bribery and corruption processes; conduct your due diligence; understand your risks; and don’t profiteer from this crisis.”
Rachel says: “We are going to be judged by retrospective accountability. Companies will ultimately be judged by shareholders, the public and governments on who they want to partner with in the future.”
For more information on the important work Rachel is doing, please take a look at the Transparency International Health Initiative link below.
For support and practical advice on business action during COVID-19 and to take action please join Business Fights Poverty’s COVID-19 global challenge. This link is also below.
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