A daily scrapbook of stories from major news media on corruption, bribery and financial crimes that undermine good governance and harm common prosperity
SYDNEY - The former chief financial officer of Securency International Pty, which supplied material for printing money to the Reserve Bank of Australia, was given a six-month suspended sentence in a bribery case, Bloomberg News reports. David Ellery, 56, pleaded guilty to one charge of false accounting in the probe of former managers and employees at Note Printing Australia Ltd. and Securency, which is a joint venture of the central bank. Securency officials have been charged with bribing officials in Malaysia, Indonesia and Vietnam to win currency-printing contracts.
ABUJA – A World Bank study conducted in 26 Nigerian states indicates about 80 percent of businesses in the country paid bribes to government officials in 2011 to stay in business, the Wall Street Journal reports citing All Africa.
LONDON – Britain declared war on corrupt practices at home and abroad when it implemented far-reaching anti-bribery legislation last year. The emerging scandal over questionable payments in a security contract with Saudi Arabia will put the government’s resolve to its first big test. At issue is whether there is one law for petty bribery and another for the politically and economically complicated world of big defence, the Financial Times says in an editorial.
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