Ramanisblog

Tag: Bribery

  • ‘India Corruption Risk’ Ernst Young Report.Scams Echo.

    The echoes of the Bribery, Corruption in High places ans Government’s unwillingness to take action, are now reverberating through the World.

    Earlier Reports of GFI and Financial Rating Agencies used to call India not too friendly for speedy growth due to slow implementation of Economic Reforms, now the tone and tenor has changed.

    Now the issue id Corruption and bribery.

    Ernst &Young has called India as ‘ that fraud, bribery and corruption are seen as significant risks in India’.

    It estimated that

    ‘Businesses in India recorded losses worth a whopping Rs 6,600 crore last year with a significant portion of these frauds occurring in the financial services sector that includes banking, investments and insurance businesses.

    63% of the total fraud cases in FY12 were reported in the financial services sector, banks being the most common victim of frauds followed by insurance and mutual fund companies, according to Fraud Indicator, a first of its kind report by Consulting firm Ernst & Young.’

    Considering the number of zeroes following the scams, this estimate is quite low.

    Read the Full Report.

    Ernst &Young Report India_jpeg.
    Ernst &Young Report India.

     

    ‘Even allowing for a recent slowdown, the Indian economy continues to grow faster than many other G20 countries.

    However, with Indian GDP growth rates below the trend of the last decade, pressure on companies to meet expectations is rising, increasing in turn, the risk of fraud, bribery and corruption.

    Although India continues to be a favored destination for foreign investment, with 71% of respondents to our 2012 India Attractiveness Survey keen to invest in the country, growth opportunities are constrained by regulation and bureaucracy.

    A recent report from the World Bank ranked India 132nd out of 183 economies for ease of doing business, and as low as 181st for dealing with construction permits and 182nd for enforcing contracts.

    Similarly, the World Economic Forum Global Competitiveness Report for 2011–2012 ranked India 96th of 142 economies for burden of government regulation.

    The combination of a market with significant investment potential and a high level of bureaucracy has resulted in many seeking to bypass, accelerate or influence decisions. Media coverage from India has featured a series of corruption scandals over recent years, including a number involving national and state government representatives.

    Coverage intensified in 2011 following high-profile protests over the pervasiveness of corruption in the country.

    Given the extensive media coverage, it is not surprising that fraud, bribery and corruption are seen as significant risks in India. This is shown by the fact that 70% of India respondents to our survey think that bribery and corruption are widespread in the country and 72% believe that management is likely to cut corners to meet targets.

    These findings are consistent with the decline in the ranking of India on the Transparency International Corruption Perceptions Index (down from 3.5 to 3.1 and from 72nd to 95th place in the rankings between 2007 and 2011).

    With fraud, bribery and corruption risk so high on the domestic and international agenda, it is essential that companies with a presence in India actively address these risks.’

    http://www.ey.com/GL/en/Services/Assurance/Fraud-Investigation—Dispute-Services/Global-Fraud-Survey—a-place-for-integrity—India

     

    You can download The printable version of The Report at the Link.

    ‘

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  • Report Bribe/Corruption on the net-site that publishes Reports Worldwide

    Mark Pieth, chair of OECD's Working Group on B...
    Mark Pieth, chair of OECD's Working Group on Bribery (Photo credit: OECD)

    I chanced upon a website that reveals Corruption world-wide.

    Corruption,like Drinking,Gambling and Prostitution is ancient and India is not alone-we may take solace in that.

    I have blogged,under Corruption, details of a site which indicates the level of Corruption and which allows you to take a peep into the world of bribery and corruption http://www.gfintegrity.org/

    Now here is a site that lets you post information and provides exhaustive information on World wide Corruption.

    https://www.bribeline.org/bribelineHome.jsp

    This would be useful for lodging PIL -what the Court may do later,may dismiss it even as frivolous-we can have the satisfaction of bringing the issue to the Public Domain.

    The Business Registry for International Bribery and Extortion

    Launched in mid-2007, BRIBEline is a secure, multi-lingual website through which companies and individuals can anonymously report the bribe demands they receive.  Making a report is quick and easy, and the online survey is currently available in 21 languages.  No names are requested or collected, and reports made to BRIBEline are not used for investigations or prosecutions.

    Based on the reports that BRIBEline receives, we hope to shine a light on the bigger picture of the scope and nature of international bribery: what groups are demanding bribes, where they are demanding them, under what circumstances, etc.  Astonishingly, there is no other source collecting this data.  We will compile the information received and periodically publish reports that focus on specific countries.

    To read BRIBEline’s reports, click on one of the bullet-points below.  To submit a report, click on the “visit BRIBEline” link below.

    https://www.bribeline.org/bribelineHome.jsp

    Now read some information on India’s Report card on Corruption and bribery.

    Read the last paragraph.

    They seem to be unaware of 2G,Bofors,ISR,Antrix-Devas scams yet.

    I plan to post details.

    Those who have information on these may post in the site.

    ”

    This report summarizes information about bribe demands in India reported to BRIBEline
    between July 1, 2007 and October 30, 2008. It creates a baseline for understanding the nature of
    reported bribe solicitations in India.
    BRIBEline, a project managed by TRACE International, Inc., is an anonymous online reporting
    tool that collects data about bribe solicitations made by official, quasi-official and private sector
    individuals and entities. BRIBEline is a secure, multilingual website available in 21 languages.
    RESULTS
    Reported Bribe Demands. Of the 96 reports in India, approximately 94% described demands
    for specific dollar amounts. The value of a bribe request is provided on BRIBEline in a range of
    nine US dollar amounts, from “less than $20” to “more than $500,000.” (A currency converter is
    provided on the BRIBEline website.) All dollar amounts in this report are shown in US dollars.
    Figure 1 shows the distribution, by amount requested, of these bribe demands. More than half
    of the reported bribe demands were for $100 or less, and approximately 84% of the reported
    demands were for $5,000 or less.

    The number of reported bribe demands originating from government officials in India was 91%.
    The greatest sources of bribe demands, in order of descending frequency, were from nationallevel government officials (33%), the police (30%), state/provincial officials and employees
    (16%), and city officials (10%). A further analysis of the specific Indian ministries requesting
    bribes at the national level shows that 13% of those demands originated from the national office
    of Customs and 9% each were from the national offices of Taxation and Water. Bribe demands
    were also reported being made from individuals affiliated with the Justice System, Visas &
    Immigration, Mines & Minerals, Construction, Defense, Energy, Foreign Affairs, Forestry,
    Health Services, Information/Communication and Land.
    In China, a similarly high percentage of bribe demands came from government officials (85% in
    China as compared to 91% in India). One significant difference, however, is that only 11% of
    reported bribe demands in China came from the police, as compared to 30% in India.

    The results gathered during this 16-month period reflect that the bribe demands being reported
    in India are predominantly for small dollar amounts and are primarily extortionate in nature.
    The vast majority of bribe demands were initiated by government officials.
    Data from these reports provides initial insight into the sources and nature of inappropriate demands
    and the phenomenon of bribery in India. The information captured on BRIBEline during this period
    provides a baseline for measuring changes in future patterns of bribery demands in India.

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