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14th May 2008
Businesses 'still asked for bribes to win new contracts'
New research has suggested that small firms in the UK are still being asked for bribes to secure or retain business.
Ernst & Young's latest tenth global fraud survey found that 13 per cent of all businesses had experienced at least one incident of bribery or corruption in the last two years.
The figure compared to six per cent in both Germany and France.
What's more, 11 per cent of businesses said they had been asked to pay a bribe to retain or win business in the last two years. Around one in sixteen (six per cent) said they thought they had lost out on business to a competitor that had paid a bribe.
John Smart, UK head of fraud investigation and dispute services at Ernst & Young, said that around half the companies it questioned were are increasing training on the subject to combat the problem.
However, he added: "Despite the best efforts of some governments, non-governmental organisations and law enforcement agencies, the risk of bribery and corruption remains prevalent.
"Awareness, education and control are the most effective methods for dealing with corrupt financial practices. Promoting ethical behaviour in your organisation - making a difference - is not just about staying on the right side of the law. It's good business."
(c) 2008 Adfero Ltd.
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