Corruption is when people in power misuse their position for personal gain. It can involve bribery, fraud, or abusing their authority. Corruption is harmful because it leads to unfairness, inequality, and a lack of trust in institutions. Preventing and fighting corruption is important for a fair and accountable society.
Managing corruption risk is particularly relevant in the context of PEP, because PEP are more exposed to bribery, abuse of power, and mismanagement of public funds.