Exposing Global Corruption And Bribery: The Alstom 2014 Story

Primary tabs

Exposing Global Corruption And Bribery: The Alstom 2014 Story

by Sangeeta Haindl
tweet me:
Paris-based company Alstom brings global #corruption to the surface http://bit.ly/1BLoSMS @Justmeans has the story #ethics

Multimedia from this Release

Friday, January 9, 2015 - 8:00am

CAMPAIGN: CSR Blogs

CONTENT: Blog

The effects of corruption on society are well documented. Politically, it represents an obstacle to democracy and the rule of law. Economically, it depletes a country’s wealth, often diverting it to corrupt officials’ pockets. Ultimately, it puts an imbalance in the way that business is done, enabling those who are corrupt to win. These effects may seem remote when a business needs to secure a contract. Some employees may even consider it harmless – the company gets its contract and the official gets his kickback—it’s just the way business is done in some parts of the world. However, corruption is not a victimless crime. Bribery and corruption leads to decisions made for the wrong reasons. Contracts are awarded because of kickbacks, not whether they are the best value for the community.

Corruption costs. This is what happened when an international well-known company was caught bribing officials in different countries to obtain contracts. Paris-based company Alstom is being charged with bribery and corruption charges that span over a ten-year period, affecting countries within Europe, Asia, and North America. It is being recorded as the largest penalty in the Foreign Corrupt Practices Act’s history, as Alstom is required to pay a fine of $772 million dollars to cover its criminal charges of bribery.

To continue reading, click here

Photo CreditZero Tolerance on Corruption

Sangeeta Haindl writes on social innovation, social enterprise, and social entrepreneurs. She is the owner of Serendipity PR, in London, U.K., where she works with high-profile brands and organizations in the public, non-profit, and corporate sectors, winning awards for her work from the communications industry. She describes herself as a Spiritual Entrepreneur, Conscious Explorer, and Futurist. She enjoys helping others, paying it forward, and being a mum.

Keywords: Innovation & Technology | Alstom | Business Ethics | Cause Global | GE | General Electric | Green Companies | Responsible Business & Employee Engagement | Responsible Production & Consumption | Social Entrepreneurship | Social investment

CAMPAIGN: CSR Blogs

CONTENT: Blog

parse.ly