Write short notes in 30 words: Conflict of interest. (UPSC 2022, 2 Marks, )

Introduction

 A conflict of interest arises when an individual or organization's personal or financial interests clash with their professional responsibilities.

 For example, a government official accepting gifts from a company they regulate, a politician accepting money from a lobbyist who expects favorable policies in return, or a doctor prescribing medication from a pharmaceutical company they have financial ties to.

 Conflicts of interest can undermine impartiality and integrity, compromising trust and ethical standards.