Payment of kickbacks and bribes

Question

Explain about the payment of kickbacks and bribes.

Answer 1

The Payment of Kickbacks and Bribes:

One of the thorniest ethical troubles that multi-national companies face is the amount of cross-country variability in paying bribes as element of business transactions. In many countries it is usual to make payments to prospective consumers in order to retain or win their business. According to a 1999 Wall Street Journal description, 30 to 60 % of all business transactions in Eastern Europe engaged paying bribes and the prices of bribe payments averaged 2 to 8 % of revenues. The 2003 Global Corruption description found that corruption among public officials and in business transactions is extensive across the world.