Friday, October 19, 2007

UK firms 'losing out to bribery'


Bribery and corruption is the fastest- growing economic crime to hit UK firms, a survey suggests.

One in ten firms says that it has lost a business deal because a competitor had paid a bribe, according to the PricewaterhouseCoopers study.

And 28% felt they had been victim of bribery or corruption.

The biannual Global Economic Crime Survey also said that the cost of economic crime is on average £1.75m - double that of two years ago.

See full Article.