The list of big name corporations facing corruption allegations just keeps growing. This week saw details emerge of alleged bribery by Alstom, the French engineering group. It follows ongoing investigations into Siemens of Germany and BAE Systems of the UK. The growing list is emblematic of the ever-widening impact of the international drive against corporate corruption. The Alstom probe has been initiated by two of the most developed nations – France and Switzerland – over payments allegedly made in two of the largest, Indonesia and Brazil.
The focus on Alstom, which has described the allegations as “hypothesis and speculation”, is part of an intensifying fight over tackling suspected bribery in global business. While some rich world countries, led by the US, are bringing more prosecutions, others, such as Britain, are earning reputations as recidivists. As rising economic powers such as China, India and Russia compete more aggressively with western rivals, many observers say a critical point is approaching: either corporate corruption is targeted everywhere or a kind of anything-goes capitalism will take root. As Chandu Krishnan, executive director of Transparency International UK, the pressure group, says: “We have been making progress on bribery. But it’s not fast enough.”
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