Singapore Climbs to Third in Global Anti-Corruption Rankings Amid Regional Shifts

Singapore has achieved a remarkable milestone in the fight against corruption, securing the position of the least corrupt country in the Asia-Pacific region for the first time in 14 years. According to the 2024 Corruption Perceptions Index (CPI) released by Transparency International on 11 February, the Republic also climbed to third place globally, its highest ranking since 2020. With a score of 84 out of 100—where 100 signifies a complete absence of corruption—Singapore has edged past New Zealand, which had long dominated the regional standings.

This achievement underscores Singapore’s enduring commitment to integrity in public governance, even as it navigates complex challenges as a global financial hub. However, experts caution that high rankings do not equate to an absence of corruption, but rather reflect robust mechanisms for prevention and enforcement. Amidst geopolitical tensions and growing concerns over illicit financial flows, Singapore’s latest ranking offers both a cause for celebration and a reminder of the vigilance required to maintain such standards.

A Steady Ascent in the Global Index

The CPI, compiled annually by Transparency International, evaluates 180 countries and territories based on perceived levels of public-sector corruption, as assessed by experts and business leaders. Singapore’s score of 84 marks a two-point improvement from its fifth-place ranking in 2023, placing it just behind Denmark (90) and Finland (88) on the global stage. This is a notable recovery from its historical peak of 87 in 2012, when the index’s methodology was updated.

The Republic’s rise to the top of the Asia-Pacific region comes as former regional leaders like New Zealand (83) and Australia have seen their scores decline in recent years. Urantsetseg Ulziikhuu, Transparency International’s Asian regional coordinator, attributed Singapore’s ascent to the relative stability of its anti-corruption framework. “Singapore’s score has remained consistent over the past few years, while others have backslid,” she told The Straits Times. “This reflects more on the challenges faced by other nations than on significant changes within Singapore itself.”

Central to Singapore’s success is its institutional strength, exemplified by the Corrupt Practices Investigation Bureau (CPIB). In a statement issued on 11 February, a CPIB spokesperson highlighted the nation’s “hard-earned” reputation, crediting a culture of zero tolerance for corruption and public willingness to report wrongdoing. This ethos of accountability has been a cornerstone of Singapore’s governance model, distinguishing it from many of its regional peers.

High-Profile Cases and Institutional Resilience

Singapore’s 2024 ranking comes in the wake of a high-profile corruption case involving former Transport Minister S. Iswaran, who was sentenced to a 12-month jail term on 3 October 2024—the first time a former Cabinet minister in Singapore has faced such a penalty. Iswaran, who served four months before being placed on home detention on 7 February 2025, was implicated in a graft probe that raised questions about the integrity of public office.

Far from tarnishing Singapore’s reputation, the case appears to have reinforced perceptions of its commitment to accountability. Ms. Ulziikhuu noted that the legal consequences faced by Iswaran demonstrated the strength of Singapore’s system. “The case shows that actions have consequences, which is not a given in many countries,” she said. This sentiment was echoed by Wilson Ang, head of Asia regulatory compliance at Norton Rose Fulbright, who praised the government’s “swift and decisive action” as a signal that no one is above the law.

Such enforcement actions, while highlighting isolated instances of misconduct, underscore the broader narrative of institutional resilience. Unlike nations where corruption often goes unchecked, Singapore’s ability to address high-level cases transparently has likely contributed to its strong CPI performance. However, the incident also serves as a reminder that even the highest-ranking nations are not immune to lapses in integrity.

Challenges of a Financial Hub

While Singapore’s ranking is a testament to its governance, it also faces unique challenges as a leading financial centre. Ms. Ulziikhuu warned of the risks posed by illicit financial flows, which could undermine public integrity if not addressed. “Nations hosting major financial centres like Singapore are often vulnerable to corrupt financial flows,” she explained. “While strong institutions project an image of integrity, regulatory frameworks can sometimes provide loopholes that are exploited, ultimately affecting global anti-corruption efforts.”

This concern is not hypothetical. A 2024 risk assessment report by Singaporean authorities highlighted the Republic’s role as a transit point for environmental crimes and associated money laundering. One notable case involved a bank customer who paid $130,000 to a South African supplier for 11 cheetahs. Although the animals did not pass through Singapore, the transaction was routed through a local account, prompting the bank to file a suspicious transaction report and terminate the relationship. Such incidents illustrate the intersection of financial systems and transnational crime, a growing area of concern for policymakers.

Transparency International’s broader findings also point to the linkage between corruption and global challenges like climate action. The 2024 CPI report noted that two-thirds of jurisdictions scored below 50, a threshold that signals pervasive corruption with “devastating implications” for environmental governance. In nations where corruption is rampant, critical climate finance is often diverted, and transparency in decision-making is compromised, leading to the destruction of natural resources.

For Singapore, the challenge lies in balancing its status as a financial powerhouse with the need to tighten oversight of cross-border transactions. If unaddressed, the influx of dirty money—whether tied to environmental crimes or other illicit activities—could pose risks to its hard-won reputation. While the CPI ranking reflects strength in public-sector integrity, it does not fully capture vulnerabilities in the private and financial spheres, areas where future reforms may be necessary.

Corruption and the Climate Crisis

The intersection of corruption and environmental sustainability is a pressing theme in Transparency International’s 2024 report. The organisation warned that corruption undermines global efforts to combat climate change by weakening governance, diverting funds, and enabling powerful corporate interests to prioritise short-term profits over long-term sustainability. “Without robust national anti-corruption measures, the effectiveness of global climate agreements remains at risk,” the report stated.

Singapore, with its strategic location and financial clout, is not immune to these dynamics. The 2024 risk assessment on environmental crimes highlighted how dirty money linked to the illegal wildlife trade can be laundered through its banking system. While the nation has taken steps to address such issues—through suspicious transaction reporting and other mechanisms—the scale of the problem requires ongoing vigilance and international cooperation.

Moreover, as a low-lying island state, Singapore is particularly vulnerable to the impacts of climate change, from rising sea levels to extreme weather events. Ensuring that anti-corruption measures extend to environmental governance will be critical for the nation’s resilience. While its high CPI score reflects strength in public institutions, the broader implications of corruption on climate action serve as a call to action for policymakers and regulators.

A Model for the Region?

Singapore’s ascent in the 2024 CPI offers valuable lessons for the Asia-Pacific region, where governance challenges remain widespread. The stark contrast between full democracies (average CPI score of 73) and non-democratic regimes (average score of 33) highlights the role of institutional independence and electoral fairness in curbing corruption. Singapore, often described as a hybrid model with strong state control yet high levels of accountability, demonstrates that effective anti-corruption mechanisms can thrive outside traditional democratic frameworks.

However, its success is not easily replicable. The Republic’s small size, economic prosperity, and historical emphasis on technocratic governance create unique conditions that may not apply to larger or less resourced nations. For countries grappling with systemic corruption, Singapore’s model offers inspiration but also underscores the structural barriers to achieving similar results.

Looking ahead, Singapore’s challenge will be to sustain its ranking amidst evolving global and regional dynamics. Geopolitical tensions, economic uncertainties, and the growing sophistication of financial crimes all pose risks to its anti-corruption framework. If the nation can address vulnerabilities in its financial sector while maintaining its zero-tolerance stance, it may continue to serve as a beacon of integrity in an increasingly complex world.

For now, Singapore’s 2024 CPI ranking is a moment of recognition for decades of effort. It reflects not just a score, but a broader commitment to governance that prioritises transparency and accountability. As Mr. Ang of Norton Rose Fulbright noted, this achievement is particularly significant in a time of global upheaval, where maintaining a culture of integrity is no small feat. Whether Singapore can build on this success—and address emerging challenges—remains to be seen, but its latest milestone offers a powerful reminder of what is possible when governance is placed at the heart of national identity.