05 June 2008
Demands for bribes in return for contracts are still common, according to a survey.
Nearly a quarter of those who responded to Ernst & Young's tenth global fraud survey knew someone in their firm that had been asked to pay a bribe to win or retain business.
Also, 18 per cent of the 1,186 business leaders polled had lost business because a competitor had paid an inducement. And a third believed bribery and corruption was a worsening problem.
Mining was perceived to be the most dishonest industry - 47 per cent of respondents said corruption was prevalent in that sector.
Respondents thought fines, penalties, being blocked from certain markets and the inability to expand were the greatest risks associated with bribery. Imprisonment was perceived as a lesser risk.
The perceived impact of "whistleblowing" also varied around the world. While more than three-quarters of North Americans believed it was a good measure to reduce corruption, only 6 per cent of Japanese believed the same.