Comments for TRACE blog

Comment on Corruption in Russian Higher Education: Careening Out of Control by Combatting Extortion, Bribery and Cheating in Schools « TRACE blog

Combatting Extortion, Bribery and Cheating in Schools « TRACE blog — Wed, 22 May 2013 15:05:12 +0000

[…] grand jury in a wide-scale test-cheating scandal that rocked the Atlanta school district. And as we’ve previously explored on TRACE Blog, corruption continues to be a big problem in Russia’s higher education system as well, including […]

Comment on The Latest Installment in the Wal-Mart Story: Not Much Progress by 3 Steps Towards Building a Better Compliance Culture « TRACE blog

3 Steps Towards Building a Better Compliance Culture « TRACE blog — Thu, 09 May 2013 15:09:55 +0000

[…] made front-page headlines when it was alleged that their employees had been paying bribes in various countries around the world. Since then, the company has spent millions of dollars to reform its compliance program, and, […]

Comment on Corruption in China, Some Historical Context by Ben Fishburne

Ben Fishburne — Thu, 02 May 2013 19:19:15 +0000

The article is interesting and the methodology ingenious. The basic point that corruption declines as prosperity increases is probably true. Still, it is VERY difficult to generalize about corruption in China because it is impossible to obtain accurate information. Surely using U.S. newspapers as a source for information, as does the article, is unlikely to yield a true picture. China’s media is totally controlled and discussion of important information about the Chinese economy or business ethics is likely to be seen as prohibited by China’s State Secrets Law. The current Chinese government does seem serious about anti-corruption efforts, although it is still early days. There have been prior, similar efforts that did not produce much. There is also a great deal of domestic corruption within China, which does not get much attention. Chinese companies and Chinese employees of foreign-owned enterprises left on their own approach interaction with the Chinese government very differently from their foreign counterparts, with a lot of “automatic” corruption on the domestic side.

Corruption in China is a complicated issue, where even the basic data is difficult to obtain and evaluate. While I join TRACE in celebrating any reduction in corruption, I would urge caution in reaching conclusions about China, which is a very unique place. It is my personal opinion that China is a more corrupt place than it was 20 years ago, notwithstanding improvements in economic development.

Comment on Oil for Food…encore by DOJ & SEC Poised For Uptick in FCPA Enforcement in 2013 « TRACE blog

DOJ & SEC Poised For Uptick in FCPA Enforcement in 2013 « TRACE blog — Tue, 23 Apr 2013 19:24:58 +0000

[...] (like the Siemens case) or multiple enforcement actions because of a single scandal (like the UN Oil-for-Food scandal or the African Sting shot show prosecutions). For some, an emphasis on numbers can really [...]

Comment on Mixed Reactions and Unanswered Questions in U.S. Supreme Court’s Ruling on Alien Tort Statute by Corruption Currents: From US Indicting Guinea-Bissau Military Leader to North … « Coffee Talk Shop…

Sun, 21 Apr 2013 00:12:38 +0000

[...] are still unanswered questions tied to a Supreme Court Decision on a Alien Tort Statute. [...]

Comment on Why We Do Due Diligence: TRACE Vignettes by Why We Ask For References: TRACE Vignettes « TRACE blog

Why We Ask For References: TRACE Vignettes « TRACE blog — Fri, 19 Apr 2013 17:02:33 +0000

[...] Vignettes, a recurring segment on our blog, is an opportunity to share with our readers interesting, real-life due diligence tales [...]

Comment on Internal investigation by oil companies of corruption in Kazakhstan by newsofkazakhstan

newsofkazakhstan — Mon, 15 Apr 2013 05:28:22 +0000

Kazakhstan should be corruption free.

Comment on KPMG ‘Insider Trading’ Case Highlights Dangers of Commercial Bribery by Worden Report

Worden Report — Fri, 12 Apr 2013 22:31:13 +0000

Although Scott London’s take from the insider trading is significant, the harm to society from that his exploitation of that conflict of interest pales in comparison to the damage from the cozy institutional relationships between CPA firms and their clients (as well as between rating agencies and firms putting up the securities to be rated). The institutional conflict of interest in the buyer-pays model multiplies the corruption from that which occurs in a personal conflict of interest. For more on these two type, and this argument, please click on my essay: http://www.thewordenreport.blogspot.com/2013/04/public-accountants-betraying-clients.html at the Worden Report.

Comment on Commercial Bribery: No Government Officials in Sight by KPMG ‘Insider Trading’ Case Highlights Dangers of Commercial Bribery « TRACE blog

Thu, 11 Apr 2013 19:26:04 +0000

[...] in the UK who worked as professional agents or contractors on major infrastructure projects were prosecuted by the Serious Fraud Office (SFO) for taking bribes in exchange for offering confidential information to bidders. In the [...]

Comment on Between Competition and Corruption: a UK Viewpoint by Melissa

Melissa — Thu, 04 Apr 2013 05:01:21 +0000

Ermm tot dis is common knoegwdle among motorists from both sides of da causeway? little gecko shd know cos he’s been working here like for years Da market rate is RM50 sometimes, wen dey see you’re like a 1st timer in such transactions, dey may ask for more ;pAnyway, just be careful, tis da puasa period now No, dat doesn’t make dem any less greedy it actually makes dem even more greedy cos dey tend to splurge more wen breaking fast In fact, tis also common knoegwdle dat da traffic police usually come out in full force during dis time of da year.Remember, if you feel generous there’s always da SPCA