Finance firms fight bribery

 
Tim Wallace
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FINANCE firms across the world have clearer anti-corruption policies than businesses in any other sector, according to new research published today by Ernst and Young.

Finance businesses are also more likely than other firms to take action against staff who breach those policies.

The study found more than 75 per cent of finance firms have a clear code of conduct and an anti-bribery or corruption policy in place, compared with an average of 57 per cent across other sectors.

Two-thirds of staff surveyed said they received adequate training in those policies, well above the one-third in other sectors.

Meanwhile 56 per cent of finance respondents said their firms had taken action against staff who broke the rules, compared with 38 per cent in other sectors.

“In part driven by some of the high-profile scandals that have hit the sector, financial services firms have undoubtedly taken impressive steps to implement robust anti-bribery policies,” said Ernst and Young’s Sanjay Bhandari.