Malaysia one of the most corrupt nations, survey shows
(TMI) – Malaysia has been ranked as one of the most corrupt nations and listed as a country which is most likely to take shortcuts to meet targets when economic times are tough, according to a recent survey by Ernst & Young, signalling that the government’s Performance Management and Delivery Unit (Pemandu) has failed in its role to transform the economy.
Malaysia, along with China, has the highest levels of bribery and corruption anywhere in the world, according to the latest report, Asia-Pacific Fraud Survey Report Series 2013.
This year’s survey polled 681 executives in China, Singapore, Australia, New Zealand, Indonesia, Vietnam, Malaysia and South Korea.
About half of the 681 executives polled on their perception of fraud felt that China, Indonesia, Malaysia and Vietnam were the worst in bribery and corruption.
Those polled were employed at corporations with a turnover in excess of US$500m, ranging from the industrial sector to financial services, retail and natural resources.
“Fraudulent practices are on the rise, and there is a disconnect between the policies that are in place and how they are applied in practice,” said Chris Fordham, EY Fraud Investigation & Dispute Services Managing Partner of Asia-Pacific, in the report.
About 39% of respondents said that bribery or corrupt practices happened widely in Malaysia, a figure which is nearly double the Asia-Pacific average of 21%.
Read more at: http://www.themalaysianinsider.com/malaysia/article/malaysia-one-of-the-most-corrupt-nations-survey-shows
