The conviction of a high-ranking Chinese official for corruption and the continuing reports of alleged sexual favours as part of the ongoing scandal involving drugmaker GlaxoSmithKline in China, exposes gaps in the anti-corruption legislation in the country. The high profile corruption case against China’s former minister of railways Liu Zhijun is being heralded as proof […]
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Bribery blocks the potential of emerging economies
Last month the FT wrote about the countries that will be driving global economic growth in the years ahead. any company still concentrating its efforts in established economies really is living in the past.” But companies trying to prepare for a future world of opportunities offered by new markets must be ready to face new […]
Finally, companies in Brazil can be prosecuted for corruption
Companies in Brazil have been able to escape punishment for corruption, but that has all changed now as Leo Torresan of Amarribo Brasil, Transparency International’s partner explains. It may be that lawmakers are feeling the heat of the popular movement against corruption. This week, after stalling for more than three years, Congress finally passed a law making […]
The Toll of Fraud in Academia
Higher education has historically provided enhanced opportunities for economic achievement and upward mobility for future generations. But that path to success may be in jeopardy for many because of the increasing costs of earning a university diploma. Moreover, the inflated cost of higher education is being fuelled, in part, by financial fraud and corruption. This […]
No defence for corruption in defence procurement
On 15 May Transparency International India invited senior figures in the defence establishment, including Defence Minister A.K. Antony, senior oversight officers from both state-owned and private defence companies, and experts from civil society to discuss the issue of corruption in defence procurement. There have been too many scandals in procurement – the AgustaWestland helicopter mess […]
A Treatise of Banking Nature
When the publication of his Treatise of Human Nature met with almost universal indifference, Scottish philosopher David Hume remarked glumly that it “fell still-born from the press”. Anthony Salz – Rothschild banker and City of London grandee – will understand those sentiments after the rather muted reaction to his own tome on human nature, a […]
Fake bomb detectors and the latest casualties of corruption
This article was first published on Trustlaw Yesterday, the British ‘businessman’ James McCormick was found guilty of fraud for selling millions of pounds worth of utterly useless bomb detectors to governments around the world, including a major contract in Iraq. A whistleblower alleges that McCormick paid millions of pounds in bribes to at least 15 […]
Fish fraud: why traceability matters
In a guest blog post, Beth Lowell of Oceana reports on alarming rates of fish fraud in the United States. When you go out to your favorite seafood restaurant or pick up fish from the grocery store, you expect to leave knowing that you got what you paid for. But what if the fish you […]
How to set up an offshore company in 10 minutes
Last week the massive “Offshore Leaks” investigation by the International Consortium of Investigative Journalists reported the uncovering of the beneficial owners of thousands of offshore companies. Among the owners of offshore shell companies disclosed so far are several senior politicians and their close families in various countries. Just how difficult and costly is it to […]
Money laundering – are BVI leaks a game changer?
Reposted from Transparency International UK The recent leaks of information about who actually owns the companies registered in the British Virgin Islands (BVI) offer a first glimpse for many people into this very murky world. For years, small amounts of information have trickled out – often through court cases – that indicate these so-called secrecy […]
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