Australia is no longer viewed as one of the 10 cleanest countries in the world. Its ranking in the Transparency International Corruption Perceptions Index has been slipping for some time. Two years ago, it fell out of the top 10 countries. Last year, it slipped further. And yet, the Attorney-General's Department website merely states "Australia is consistently ranked as one of the least corrupt nations in the world in the" TI index.

Last week Fairfax Media investigative journalists reported bribery allegations rampant in the powerful oil industry, including well-known Australian companies and executives. They also reported a bribery allegation from Cambodia that has resulted in a CEO of a major company resigning in view of the ongoing investigation.

Illustration: Michael Mucci

We have seen cross bench senators calling for a wider approach to corruption than just the proposed Australian Building and Construction Commission, including calls for a federal anti-corruption agency. To its credit, the Greens have been calling for this for some time.

A lack of proper oversight and transparency allows corruption to occur and this affects us all – whether it be guns on the streets, illegal goods entering the country, questionable land zonings, foreign bribery, terrorism financing, favouritism resulting in unfair deals, political donations and lobbying, or money laundering.