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Corporate bribery extracting a huge cost globally, says OECD

Most cases occur in the extractive, construction, transport and storage, and information sectors, it adds

Published Tue, Dec 2, 2014 · 09:50 PM

Tokyo

MOST international bribes run up to millions of dollars and are paid by large companies, usually with the knowledge of senior management, according to a new analysis of foreign bribery and corruption published on Tuesday by the Organisation for Economic Co-operation and Development.

Bribes in the cases analysed by the Paris-based OECD "equalled 10.9 per cent of the total transaction value on average, and 34.5 per ce…

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