Transparency International’s Corruption Perceptions Index ranks Kenya in a distant 136th place. That low ranking confirms the sentiment often encountered in Nairobi: corruption is widespread in many aspects of life, from bribing a policeman to avoid charges for alleged traffic violations to graft at the highest levels of government, as poignantly described by a British… Read More
The need for anti-corruption compliance programs in companies of all sizes in global value chains has never been greater. Since 2006, the U.S. government has settled or prosecuted nearly 300 corruption cases against companies from around the world, including many where the corrupt conduct originated from multinational corporations’ suppliers, vendors, and agents. The average cost of resolving these enforcement actions now tops… Read More
A lab technician went to the office of a public official to renew her work contract with a municipal laboratory in northern Lebanon. Several days after submitting her request, the official’s secretary invited her to come to his office. Hoping to finally receive his signature on her contract renewal, the young woman arrived at the… Read More
Sixteen teams made it through the group stage in the 2014 World Cup to the knockout round and are fighting towards international bragging rights for the next four years. What if, instead of scoring goals to advance, each country won its match-up based on who has the least amount of corruption? Each year, Transparency International releases… Read More
“I see a great need of vendor supply chain training providers to run the show effectively. If we want growth, train the relevant person first” — Ayesha Muharram, Chief Internal Auditor and Country Compliance Officer, Glaxo Smith Kline. Lately it has become a requirement among multinational companies to comply with international anti-corruption laws such as U.S…. Read More
Last week Chinese e-commerce giant Alibaba filed paperwork with the U.S. Securities and Exchange Commission for an initial public offering (IPO). As one of the largest companies in the world’s second largest economy, Alibaba represents an enormous opportunity for investors. They are expected to raise between $15 and $20 billion, making this IPO potentially bigger than Facebook’s…. Read More