Reposted from the blog of Transparency International’s EU liaison office in Brussels. Corruption thrives in the dark, dank corners where no-one is looking, and banking is no exception. Who had heard of the LIBOR benchmark until the rate-rigging scandal erupted early last year? Now it is a byword for bad behaviour in banks. This week, […]
Reposted from the blog of the Task Force on Financial Integrity & Economic Development Last week, the U.S. Senate Banking Committee held a hearing titled, “Patterns of Abuse: Assessing Bank Secrecy Act Compliance and Enforcement.” The committee called three regulators to testify: David Cohen, Under Secretary for Terrorism and Financial Intelligence, United States Department of the […]
Elisabeth Kahler and Christian Humborg work with Transparency Germany and prepared the launch of “universitywatch”. Berlin: Until 2011 Deutsche Bank funded two endowed chairs, one at the Institute for Applied Financial Mathematics at the Humboldt University Berlin and one at the Technical University Berlin. The steering committee named to appoint the chairs represented both sides […]
Let the buyer beware: cheap clothing sometimes comes at a high price. Since the fire that killed 112 clothing workers in a Bangladesh factory last month, the big global retailers supplied by the factory are being asked what they do to make sure the products we buy come from safe factories? How much is corruption […]
President Barack Obama, speaking to the United Nations General Assembly about the true nature of democracy, mentioned corruption and bribery several times. I was particularly struck by this line: True democracy demands that citizens cannot be thrown in jail because of what they believe, and that businesses can be opened without paying a bribe. Unfortunately, […]
In an opinion piece in the latest edition of New Europe Jana Mittermaier, Head of Transparency International Liaison Office to the EU, argues that if European leaders are serious about fighting corruption, they need to pay closer attention to the behaviour of their companies. The most recent results of the Bribe Payers Index (BPI) show that […]
Eduardo Bohórquez and Deniz Devrim of Transparency International’s Mexican Chapter reflect on their country’s efforts to fight foreign bribery and new opportunities for its upcoming G20 presidency. In the 2011 Bribe Payers Index (BPI), Mexico ranks on position 26 out of 28 countries with a score of 7.0 on a scale where 0 means Mexican […]
On Wednesday 2 November, Transparency International will launch the Bribe Payers Index 2011, which ranks the perceived propensity of 28 countries and 19 sectors to bribe abroad. Written for Transparency International’s 2009 Global Corruption Report by David Hess, a Professor of Law at the Ross School of Business, University of Michigan, this excerpted article looks […]
“In looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if they don’t have the first, the other two will kill you.” The American investor Warren Buffet’s words of advice struck a chord. His words were quoted by another man intimately familiar with the world of business, K.M.Lee, Managing […]
Tetraethyl lead – a compound used in leaded petrol – was a major source of income for the international chemical firm, Innospec, before health and environmental concerns led to its abolishment in the US and Europe more than ten years ago. The poisonous chemical – which has been proven to stunt the mental development of […]
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