MNCs in emerging nations fail to tackle corruption, poverty: anti-graft group

London

MULTI-NATIONAL companies based in emerging nations are failing to tackle corruption with a lack of transparency allowing unscrupulous practices to continue and exacerbating poverty, a study by an anti-corruption group said on Monday.

The report by Transparency International found that three quarters of the 100 fastest-growing companies based in 15 emerging market countries and active in 185 countries scored less than half marks in transparency tests.

José Ugaz, chair of Transparency International, said customers should demand companies have high anti-corruption standards or take away their business, companies need to be more transparent, and govern…