GLOBALIZATION AND CROSS-BORDER CORRUPTION: CHALLENGES FOR ECONOMIC SECURITY

Abstract

The article addresses the issue of transnational corruption in the context of globalization and its impact on the economic security of states. The focus is on the complexity of corruption schemes that cross national borders, making their detection and prevention increasingly challenging. The study analyzes key forms of transnational corruption, such as bribery of foreign officials and money laundering through international financial systems. The article assesses the effectiveness of international mechanisms to combat corruption, including the United Nations Convention against Corruption and the OECD Anti-Bribery Convention, highlighting their limitations. These limitations include differences in national legal frameworks, varying levels of enforcement, and challenges in international coordination. Furthermore, the article underscores the need for enhanced international cooperation, including the development and implementation of unified legal standards and enforcement mechanisms. It also emphasizes the importance of increasing transparency in financial operations, particularly in offshore jurisdictions and anonymous corporate structures, to mitigate the risks associated with illicit financial flows. Strengthening anti-corruption enforcement at the national level is identified as a crucial step, which involves reinforcing government institutions, ensuring the independence of the judiciary, and protecting whistleblowers and journalists investigating corruption cases. The article also explores the broader implications of transnational corruption, such as its impact on political stability, investment attractiveness, and social inequality, all of which contribute to the erosion of trust in public institutions and the rule of law. The findings suggest that without a concerted global effort, the challenges posed by transnational corruption will continue to undermine economic security and hinder sustainable development. Finally, the article points to the need for further research into the evolving nature of transnational corruption in a globalized world, as well as the development of innovative anti-corruption tools and strategies. These future efforts should focus on understanding the factors that drive transnational corruption, exploring the role of technology in both facilitating and combating corruption, and assessing the long-term impacts of corruption on global economic stability. The article concludes by calling for a comprehensive, coordinated approach that involves international organizations, governments, businesses, and civil society in the fight against transnational corruption to ensure global economic security and sustainable development.