A UNITED NATIONS General Assembly Distr. GENERAL A/RES/54/205 27 January 2000 Fifty-fourth session Agenda item 98 (b) RESOLUTION ADOPTED BY THE GENERAL ASSEMBLY [on the report of the Second Committee (A/54/586)] 54/205. Prevention of corrupt practices and illegal transfer of funds The General Assembly, Recalling its resolution 53/176 of 15 December 1998 on action against corruption and bribery in international commercial transactions, Concerned about the seriousness of problems posed by corruption, which may endanger the stability and security of societies, undermine the values of democracy and morality and jeopardize social, economic and political development, Recognizing the importance of existing international and national laws for combating corruption in international commercial transactions, Recognizing also the important role of the business community, in particular the private sector, in enhancing the dynamic process of the development of the agricultural, industrial and service sectors and the need to create an enabling environment for business in order to facilitate economic growth and development of developing countries, most especially African countries, Mindful of the very important role that the private sector can play in fostering economic growth and development and of the active involvement of the United Nations system in facilitating the constructive participation and orderly interaction of the private sector in the development process by embracing universal principles and norms, such as honesty, transparency and accountability, 1. 00 25413 Condemns corruption, bribery, money-laundering and the illegal transfer of funds; /...