Ireland ranks among least corrupt nations but faces rising dark money risks

Transparency International warned Ireland remains potentially exposed to new, emerging corruption risks which may not yet be familiar to the public at large.

Ireland may be the 15th least corrupt country worldwide, but should still strengthen transparency and oversight across political donations and the corporate and financial sectors.

That is according to the latest edition of the annual corruption perceptions index (CPI), which gives Ireland a score of 76 out of 100 in rating the prevalence of corruption.

It displays a “comparatively strong international reputation” for controlling public sector corruption, according to non-profit Transparency International.

However, the organisation warned Ireland remains potentially exposed to new, emerging corruption risks which may not yet be familiar to the public at large.

The annual CPI saw Ireland maintain a standing mostly in line with its position in the same index 12 months prior, when the country’s overall score was 77.

This year, the countries ranked as being least corrupt include Denmark, Finland, Singapore, and New Zealand, while at the other end of the scale, the nations ranked worst in terms of corruption include South Sudan, Somalia, Venezuela, and Yemen.

The rankings themselves are compiled from 13 international sources documenting corruption globally, such as the World Bank and World Economic Forum, with each country being assessed by at least three of those sources.

John Devitt, chief executive of Transparency International Ireland, acknowledged that Ireland’s performance in the rankings continues to be above average, but added that “the absence of daily headlines about corruption does not mean the risks have disappeared”.

He noted that the flow of illicit ‘dark’ money through Dublin poses a threat “to social cohesion, as well as economic integrity and democratic resilience”.

“This has always been the case, but is especially so given recent political developments on both sides of the Atlantic and (the) corresponding rise of anti-democratic forces across Europe,” Mr Devitt said. 

“It’s important that this be considered a threat to national security and be addressed in any future national security strategy.” 

Transparency International added that Ireland’s role as a major international financial hub, together with gaps in transparency surrounding corporate ownership and lobbying finance, only serves to increase “the risk that illicit funds or undisclosed political influence could pass through the State”.

The organisation called on the Government to prioritise reform of Ireland’s Ethics Acts, and to strengthen the rules surrounding political finance donations.

This year’s iteration of the CPI rankings sees the global average score drop for the first time in a decade to just 42 out of 100, indicating major issues with corruption worldwide.