Hidden Menace: How secret company owners are putting troops at risk and harming American taxpayers
Since the financial crisis and release of the Panama Papers, we have heard a lot about the revenue governments lose to tax avoidance and evasion, but what about the losses resulting from corruption and fraud when governments spend money on goods, services and infrastructure?
Around the world governments spend $9.5 trillion each year on public procurement. It should be no surprise that fraudsters, and corrupt officials, take advantage of this. According to research by the UN, corruption may amount to as much as 25% of the value of government procurement contracts worldwide.