Corruption is deeply embedded in the political culture and poverty of many less developed countries (LDCs). Regulatory bodies are particularly vulnerable to corruption as they have the power to make key decisions on profit-making activities. Corrupt regulatory bodies can thus dangerously impede economic development. And the problem with prescribed remedies is that they are too ambitious. Corruption is likely to remain a factor in many LDCs until substantial changes in their political cultures and economic structures have been achieved.