Thursday, October 4, 2007

Multinationals Fuel Graft in Poor States: Watchdog -

Multinationals Fuel Graft in Poor States by Sylvia Westall for Reuters

Multinational companies and financial institutions that use bribery and tolerate illicitly gained wealth are helping fuel corruption in the world’s poorest countries, a global corruption watchdog said on Wednesday.

Berlin-based Transparency International (TI) said in its latest corruption perceptions report that while poorer countries should tackle their own graft problems, richer states are also responsible, and often to blame.
“Bribe money often stems from multinationals based in the world’s richest countries. It can no longer be acceptable for these companies to regard bribery in export markets as a legitimate business strategy,” the report said.