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Established to promote, support and fund research, investigative journalism, publications, videos and related initiatives, the TRACE Foundation advances commercial transparency and anti-bribery education. Through scholarships, prizes and grants awarded to individuals and organizations, it helps deepen understanding of the causes of corruption and the most effective ways to address it.
Funded by TRACE International, the Foundation operates under the guidance of an independent board with sole authority over project selection, execution and the distribution of funds—together, these efforts help drive meaningful progress in the global fight against corruption.
Given the extraordinary pressure on investigative journalism in the U.S. and many autocratic countries, the TRACE Foundation will shift its focus in 2026 from recognizing and rewarding past journalism to supporting future efforts with grants.
Iraqi journalist Asaad Al-Zalzalee was awarded the TRACE Prize for his investigation “Schools of Illusion,” which uncovered widespread corporate fraud that led to the waste of more than US$200 million that was allocated to build schools in Iraq.
The second recipient of the TRACE Prize was Renee Dudley, a senior reporter with ProPublica, whose investigation “The Extortion Economy” uncovered a scheme in which businesses supposedly aimed at helping the victims of ransomware actually foster the practice by secretly paying off the hackers. The project profiled a young “geek” in Normal, Illinois, who developed ransomware decryption tools in his spare time.
An honorable mention was awarded to Dubai-based journalist Mazhar Farooqui for his investigation into a shady job recruitment operation out of India. The Bribery Division team, which included reporters from the International Consortium of Investigative Journalists, La Posta, McClatchy and other organizations, also earned an honorable mention for their investigation that unearthed new angles in the Operation Car Wash scandal.
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