Up to 80 Percent of Execs Admit to Witnessing Bribes

In a stunning revelation from a recent Bloomberg survey, approximately 80 percent of board-level executives polled admitted to having seen bribery and other types of corruption within their organizations. Many critics say this is a sign that despite anti-bribery laws throughout the United States and internationally, the presence of corruption is still a major problem.

The survey included 500 executives from companies across 12 different countries. Of these respondents, 59 percent said anti-bribery policies simply do not work, while 87 percent said the policies actually served to make it more difficult to build their businesses. Another 33 percent said they did not perform their due diligence on implementing anti-bribery measures when discussing potential mergers or acquisitions.

A growing issue

Bribery and corruption have been in the news at an international level in recent years, especially in the United Kingdom. The U.K. is set to host an anti-corruption summit that will feature a collaboration of global leaders to help discuss the response.

The recent Panama Papers scandal has also brought corruption to the forefront once again, as numerous politicians, business leaders and celebrities were listed in documents displaying how some of the wealthiest people in the world have managed to funnel billions of dollars through offshore accounts to avoid taxes.

The United States has protections in place for whistleblowers that do not exist in many other countries. Anyone who is made aware of such corruption within their workplace is able report the incident to the proper authorities and potentially take in a significant financial reward.

For more information on how to handle whistleblower claims within your business or organization, speak with a trusted Dallas attorney at Whistleblower Law for Managers.