You're reading: Time: Corruption costs EU over $162 billion a year

A first-of-its-kind report issued by the European Union on Monday found that corruption across 28 member states costs the EU economy $162.19 billion a year.

The EU Anti-Corruption Report found that 76% of Europeans think corruption is widespread and 56% say the level of corruption in their own country has risen over the past three years. The report notes that many member nations have taken steps in recent years to battle petty or institutional corruption, but that results aren’t even across the states.

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