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, […]
Our recent report on corporate transparency has exposed lamentably low levels of country-by-country reporting across the business spectrum. This means 69 of the world’s biggest companies operate in India, for example, but only two disclose how much money they made there, and not one discloses Indian tax payments on their main corporate website (see the […]
After four years of economic crisis and financial scandal, finally some good news. Eighty-five per cent of bank employees surveyed believe that their companies have an ethical duty to fight corruption. That is a finding from our survey of 3,000 businesspeople in 30 countries: Putting Corruption out of Business (see what businesspeople from other sectors […]
With countries under pressure to create growth and jobs, especially for the young generation just entering the job market, dealing effectively with corruption is not only an ethical imperative; it is an imperative for the well-being of the economy and society. Elaine Dezenski, Senior Director and Head, Partnering Against Corruption Initiative, World Economic Forum, explores […]
We ask businesspeople where they lose out to competitors’ corruption. One of the biggest corruption stories in the world this year was the allegation that Walmart paid bribes totalling US$24 million in its Mexican operations. It makes you wonder how many other companies lost out because of those bribes. A new survey gives us some […]
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