ADB saw record reports of fraud in 2012

The Asian Development Bank’s (ADB’s) Office of Anticorruption and Integrity (OAI) received a record 240 complaints in 2012. This saw the opening of 114 new investigations and sanctions imposed on 42 companies and 38 individuals.

The ADB said the bulk of the complaints involved fraudulent misrepresentations about qualifications, experience, and technical capabilities of consulting companies, contractors and individuals seeking work from the bank. In addition, 57 companies and 51 individuals were barred from seeking ADB-financed contracts as part of a cross debarment agreement forged between ADB and four other multilateral development banks, including the World Bank.

"At a time when many donors are implementing austerity measures, those entrusted with development mandates have an obligation to use a steadily declining pool of development funds. When development funds are diverted or misused, people with real needs are deprived of basic services, rights, and opportunities,” said Clare Wee, Head of the OAI.

To prevent fraud and corruption in ADB projects, OAI provides support and advice to management and project teams on issues relating to integrity, money laundering, and financing of terrorism risks, particularly for its public and private sector projects.