September 16th, 2008
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Although now less of a concern, corruption still a problem

Corruption is a significant issue for not only the corporate world, but also the political one, an international survey conducted by Ernst & Young found, napi.hu reported. After interviewing 1,186 corporate leaders from 64 countries, 61% said that they felt corruption was a problem in their field of work, although rather surprisingly only 25% said there was a corruption case at their work. Nearly the same amount of people said that they had been offered bribes.

Two-thirds of the corporate leaders felt that anti-corruption measures have improves, which is reflected by the increase in investigations. A little over half of the Hungarian respondents to the survey expressed their satisfaction with the new measures, which was typical for the region. Although half of them felt a fine would be harmful to their business, two-thirds expressed fear that a corruption case could shut them out of the market.

38% of respondents expressed their opinion that corruption is an extensive problem in their field of work, with every sixth respondent stating that they have lost an assignment due to corrupt actions on the part of their competition.

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