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U.N. panel decries 'rampant' corruption

Governments lose trillions of dollars a year to corruption, money laundering and tax avoidance that could aid people in poverty, a U.N. panel reported.

Russian opposition activist and lawyer Lyubov Sobol with the Anti-Corruption Foundation
Russian opposition activist and lawyer Lyubov Sobol with the Anti-Corruption Foundation (AN/Michał Siergiejevicz)

UNITED NATIONS (AN) — Governments lose trillions of dollars a year to corruption, money laundering and tax avoidance and trillions more are hidden away that could aid people living in poverty, a U.N. panel reported on Thursday.

The coronavirus pandemic is "exacerbating challenges" and the international community must rally together because "a legitimate, coherent ecosystem of instruments and institutions needs coordination," it said.

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