Corruption Costs World's Poorest Countries $1tn Each Year

A shocking report by anti-poverty organisation One has revealed that corruption is to blame for $1tn being taken out of the world's poorest economies annually as well as 3.6 million deaths each year.

One says that criminals thrive in some of the world's poorest regions by setting up fraudulent firms that can launder money more easily.

"Corruption inhibits private investment, reduces economic growth, increases the cost of doing business and can lead to political instability," said the report.

"But in developing countries, corruption is a killer. When governments are deprived of their own resources to invest in health care, food security or essential infrastructure, it costs lives and the biggest toll is on children."

The group calculated that if corruption was stamped out in some of the worst hit regions, in this case sub-Saharan Africa, the money that would usually be lost could be spent on providing 10 million children a year with an education, as well as make pay available for 500,000 primary school teachers.

It adds that 11 million people with HIV/Aids would be provided with antiretroviral drugs if corruption was crushed.