skip navigation

PUBLICATIONS

Register for Latest Research

Stay Informed
Register with NCJRS to receive NCJRS's biweekly e-newsletter JUSTINFO and additional periodic emails from NCJRS and the NCJRS federal sponsors that highlight the latest research published or sponsored by the Office of Justice Programs.

NCJRS Abstract

The document referenced below is part of the NCJRS Virtual Library collection. To conduct further searches of the collection, visit the Virtual Library. See the Obtain Documents page for direction on how to access resources online, via mail, through interlibrary loans, or in a local library.

 

NCJ Number: 65819 Find in a Library
Title: REACH OF CORPORATE CORRUPTION
Journal: AFL-CIO AMERICAN FEDERATIONIST  Volume:85  Dated:(OCTOBER 1978)  Pages:17-25
Author(s): P PAYNE
Corporate Author: American Federation of Labor and Congress of Industrial Organizations
United States of America
Date Published: 1978
Page Count: 9
Sponsoring Agency: American Federation of Labor and Congress of Industrial Organizations
Washington, DC 20006
Type: Report (Study/Research)
Format: Article
Language: English
Country: United States of America
Annotation: CASES OF UNETHICAL AND ILLEGAL PRACTICES BY LARGE CORPORATIONS ARE DESCRIBED, INCLUDING BRIBERY, COMMODITIES FRAUD, PRICE FIXING, AND TAX EVASION.
Abstract: THE PUBLIC HAS REMAINED APATHETIC TO DISCLOSURES OF WIDESPREAD CORPORATE CORRUPTION BECAUSE OF THE ENORMOUS AMOUNTS OF MONEY INVOLVED AND THE ARGUMENTS OF BUSINESSMEN THAT BRIBERY OF FOREIGN OFFICIALS WILL EVENTUALLY CORRUPT THE DOMESTIC ECONOMY AND THREATEN THE EFFICIENCY OF THE COMPETITIVE MARKET SYSTEM. ILLEGAL BUSINESS ACTIVITIES ALSO RESULTS IN LOSS OF TAX REVENUES AND HIGHER PRICES FOR THE CONSUMER. THE SCOPE OF CORPORATE CORRUPTION IS ILLUSTRATED BY NUMEROUS EXAMPLES OF COMPANIES UNDER INDICTMENT OR INVESTIGATION DRAWN FROM THE 13 MAJOR INDUSTRIES, INCLUDING TRANSPORTATION, ELECTRONICS, BANKING, AND OIL. SPECIAL INSERTS DESCRIBE CASES INVOLVING QUESTIONABLE POLITICAL CONTRIBUTIONS AND FOREIGN BRIBERY. ALTHOUGH THE SECURITIES AND EXCHANGE COMMISSION CAN ONLY INSTITUTE CIVIL LAWSUITS AGAINST VIOLATORS, IT SETTLES MOST CASES BY A CONSENT ORDER BECAUSE OF BUDGET AND STAFF INADEQUACIES. THE JUSTICE DEPARTMENT FACES DIFFICULTIES IN PROSECUTING CORPORATIONS BECAUSE IT CANNOT GAIN ACCESS TO SECRET FOREIGN BANK ACCOUNTS AND OTHER CORPORATE RECORDS. THE INTERNAL REVENUE SERVICE IS INVESTIGATING THE SUBSTANTIAL BENEFITS THAT EXECUTIVES RECEIVE, WHICH OFTEN SERVE AS TAX SHIELDS. THE CORPORATE GOVERNANCE REFORM MOVEMENT ADVOCATES MAKING CORPORATE DIRECTORS AND OFFICIALS MORE ACCOUNTABLE TO SHAREHOLDERS. SUCH GROUPS ATTEMPT TO EDUCATE SHAREHOLDERS ON THEIR RIGHTS AND PROMOTE INCREASED SHAREHOLDER CONTROL OF SOCIAL, POLITICAL, AND ECONOMIC ISSUES. LEGISLATIVE EFFORTS INCLUDE THE 1977 FOREIGN CORRUPT PRACTICES ACT AND A TASK FORCE ON CORPORATE ACCOUNTABILITY ESTABLISHED BY THE FEDERAL TRADE COMMISSION. (MJM)
Index Term(s): Accountability; Antitrust offenses; Bribery; Case studies; Corruption of public officials; Foreign Corrupt Practices Act (FCPA); Fraud; Internal Revenue Service; Tax evasion; Trade practices; White collar crime
To cite this abstract, use the following link:
http://www.ncjrs.gov/App/publications/abstract.aspx?ID=65819

*A link to the full-text document is provided whenever possible. For documents not available online, a link to the publisher's website is provided. Tell us how you use the NCJRS Library and Abstracts Database - send us your feedback.