Singapore retained its fifth ranking in an index showing the city-state to be one of the least corrupt jurisdictions in the world, while Hong Kong ranked 14th,, according to an annual measure by Transparency International.

Singapore
retained its fifth ranking in an index showing the city-state to be one of the
least corrupt jurisdictions in the world, while Hong Kong
ranked 14^th, according to an annual measure by Transparency
International.

Denmark
is the cleanest country out of a total of 176 regimes ranked by the
organisation in its Corruption Perceptions Index 2012. Afghanistan, Somalia
and North Korea
are seen as among the worst such places.

As explained in this publication recently, a number of
developed countries, such as the UK, have enacted legislation in
recent years to stamp out bribery and corruption, and the impact of such rules
often extends far outside a country’s borders. (To see an interview with
Withers about this issue, click here.)

While there can no room for complacency, the relatively high
status of Hong Kong and Singapore
in terms of transparency will be welcomed by the governments of these
jurisdictions, as they are both important booking centres for wealth
management.

Overall, the figures are not particularly encouraging in
terms of overall progress, Transparency International said. Two thirds of the countries
measured score below 50, on a scale from 0 (perceived to be highly corrupt) to
100 (perceived to be very clean).