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Monday, May 19, 2008

World Lags Behind New York's Corruptive Ways

Quarter of Companies Asked to Pay Bribes, Ernst & Young Reports
Bloomberg News by James Lumley

May 14 (Bloomberg) -- Almost a quarter of businesses have been asked to pay bribes over the last two years in spite of increased efforts to combat the problem by law-enforcement agencies, an Ernst & Young LLP survey published today said. A total of 23 percent of respondents said they had been approached for bribes to gain or keep customers and 18 percent said they had lost business to a competitor that paid a kick- back. The New York-based accounting firm interviewed 1,186 senior executives in 33 countries to calculate the statistics.

The figures give "reason to be concerned,'' said David Stulb, Ernst & Young's global head of fraud investigations, in a telephone interview. Law-enforcement agencies are increasingly viewing bribery as a serious offense, increasing the risk that companies that pay bribes will find their executives facing charges, he said.

The report comes as bribery cases are unfolding on several continents. In Germany, Siemens AG is facing an investigation over possible bribery. A U.K. court last month told the U.K. government to consider re-opening a probe into allegations BAE Systems Plc gave kick-backs to Saudi officials to win business. In South Korea last month, prosecutors questioned Samsung Group Chairman Lee Kun Hee over bribery claims.

In the U.K., 13 percent of respondents had experienced at least one incident of bribery or corruption in the last two years, compared with six percent of French respondents and six percent of German companies that answered the survey. The global average was 24 percent, showing an ``increased risk of doing business outside Western Europe,'' the report said. "To be able to get 1,200 respondents talking about bribery and corruption would have been difficult five years ago,'' Stulb said. It is "encouraging'' that businesses are increasingly open to discussing and addressing the issue, he added. To contact the reporter on this story: James Lumley in London at jlumley1@bloomberg.net

4 comments:

Mickey's friend said...

Well, well. We always knew that there's no place like New York. And that also applies to the corruption. And whoever yee controls the courts, controls the money, etc. (quote: Mickey Mouse)

a fly on the wall said...

it's call grease!!!

Anonymous said...

The funny thing is the TV show Law & Order is made up, has good acting, and depicts what a court system is supposed to be about. The New York state court reality is about bad acting and everything contrary to a civilized non-corrupt system of law. Quite disturbing.

the fixer said...

an envelope full of cash for the Judge and everybody walks, no one has to known anything except the bagman

Blog Archive

See Video of Senator John L. Sampson's 1st Hearing on Court 'Ethics' Corruption

The first hearing, held in Albany on June 8, 2009 hearing is on two videos:


               Video of 1st Hearing on Court 'Ethics' Corruption
               The June 8, 2009 hearing is on two videos:
         
               CLICK HERE TO SEE Part 1
               CLICK HERE TO SEE Part 2