S$2.3m China bribery case: Ex-Seagate director and sister get longer jail terms after appeals
Recent cases of #corruption in international business have attracted considerable media attention. Paying a traffic officer to ignore a minor traffic violation is unremarkable; paying a senior government official a secret #bribe of millions of dollars to get a large #contract signed is a different matter.
While virtually all multinational companies have adopted #anticorruption policies, it is unclear how often they are fully implemented and internalized as part of the corporate culture.
The emphasis on #anticorruption policies is relatively recent and, even in the most responsible organizations, such policies are still works in progress.
We can expect further significant scandals to arise soon due to the effects of the #Covid19 pandemic and the resulting economic crisis.
As Warren Buffet famously observed in his 2001 Chairman’s letter to Berkshire Hathaway shareholders, “You only find out who is swimming naked when the tide goes out.”