The World Economic Forum estimates the cost of corruption to be more than 5% of global GDP (US $2.6 trillion), and the World Bank believes over $1 trillion is paid in bribes each year. Of course, given the secretive nature of corrupt exchanges, we cannot know the true value of how much is actually lost, but there can be little doubt that corruption represents a major cost to the public. Given such staggering numbers, it is understandable that both academics and policymakers would want to develop measures of corruption. These measures aim to show how much corruption exists in the world and where it occurs, and ultimately provide guidance about how to stop it. Unfortunately, currently available measures of corruption are beset by conceptual, methodological, or political problems (or a combination of all three) that constrain their utility as a guide to developing effective anti-corruption policies.