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Economic Fraud

Russia, Indonesia and Brazil led India in corporate corruption

By LIFS November 2, 2007 at 10:55 AM
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A global survey of corporate corruption has found that 40% of businesses were asked to pay bribes to secure licenses and contracts in India.

Russia, Indonesia and Brazil led India in corporate corruption, according to the 4th Global Economic Crime Survey published by PriceWaterhouseCooper.

The survey found that a third of businesses in India reported losing opportunities to competitors who paid bribes. A third of Indian companies surveyed also said they had been victims of economic frauds like asset misappropriation, accounting fraud, money laundering, etc.  

 Country Percentage of companies asked to pay a   bribe  Percentage of companies that lost business to a competitor who paid  abribe 
 Indonesia  54  39 
 Russia  48  51 
 Brazil  48  35 
 India  38  34 
 CE Europe  30  45 
 Africa  29   31 
 Turkey  28  31 
 Mexico  28  26 
 SC America  26  29 
 China  21  22 
 Asia Pacific  20  20 
 West Europe  9  14 
 North  America     3   6 
 Global  18  24
 Source: Global Economic Crime Survey



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Odds & Ends | Magazine | November 2007

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