11:03 GMT09 March 2021
Listen Live
    Business
    Get short URL
    0 56
    Subscribe

    High-profile corruption scandals involving European and Western companies and structures showcase a lack of institutional control and a shared responsibility in the export of corruption to poorer nations, the managing director of a Swiss governance non-profit told Sputnik on Monday.

    ST. PETERSBURG (Sputnik) – The Basel Institute managing director highlighted the role of more affluent countries whose government or business leadership acts to "export corruption."

    "The recent, for example, VW scandal shows that even in these countries, especially in the private sector, there is a lack of control," the Basel Institute on Governance asset-recovery center managing director Gretta Fenner said.

    Up to 11 million diesel engine Volkswagen vehicles manufactured 2009-2015 are estimated to have been programmed to cheat emissions tests for nitrogen oxide. The company announced it would set aside over $7 billion to mitigate the effects of the scandal.

    "There is a certain naivety about these organizations’ capacity to actually control misconduct," Fenner stressed, adding that informal structures permeate even seemingly non-corrupt countries like Switzerland.

    "The fact that there is corruption in poorer countries does not mean that we, as richer Western countries do not carry our own responsibility," Fenner reiterated.

    Fenner spoke to Sputnik on the sidelines of the sixth Conference of the States Parties to the United Nations Convention against Corruption, which opened in St. Petersburg on Monday. The UN anti-corruption session continues through November 6.

    Related:

    Guatemalan President Says Will Not Resign Amid Graft Scandal
    Pion-ear-ing Performance Artist Grafts Extra Ear Onto His Arm
    Romanian Prime Minister Accused of Graft
    Tags:
    corruption, economy, graft, US
    Community standardsDiscussion