But, although corruption is - perhaps understandably – more prevalent in poor countries, where economic pressure for survival is greater, it is also encouraged in poor countries by companies from richer nations. TI’s 2002 report revealed very high levels of bribery in developing countries by corporations from Russia, China, Taiwan and South Korea, followed by Italy, Hong Kong, Malaysia, United States, Japan, France and Spain. Perhaps unsurprisingly, construction and arms industries are the sectors that are guilty of heaviest bribery.

The situation in Iraq is of course alive with accusations of corruption. The US claims that Saddam Hussein's Iraq made more than $21bn (£11.3bn) from illicit oil sales and kickbacks in breach of UN sanctions, alleging that firms, government ministers and senior UN officials benefited from the corruption. Iraqi officials allegedly extracted the illegal payments from foreign companies doing business under the UN-administered oil for food programme.

As well as evidence of collusion by international oil companies in sanctions busting, the BBC also found evidence that corruption on Iraqi contracts has actually got worse since the former Iraqi dictator fell from power. And the US government is currently setting up an inquiry into the Iraq contracts given to Halliburton, the company once run by Vice President Dick Cheney. Halliburton has been accused of overcharging for its work as well as winning the reconstruction contracts as a result of contacts with the Iraq administration.

Well, you know what they say about the love of money...