Mon, 30 Nov -0001 00:00:00 +0000 By CHITE MTONGA ZAMBIANS must wake up to corporate corruption which is draining the country of huge amounts of money, because it is not as rigorously investigated as public graft, Peoples Party President, Mike Mulongoti has disclosed. Corporate corruption, he said, was often overlooked and not investigated as much as corruption in the public sector, yet government economically loses out in corrupt transactions in the private sector Mr Mulongoti , who was reacting to financial intelligence revelation of large scale transfer pricing and other vices involving corporate institutions, said most Zambians were only concerned with corruption in government because they directly remit tax to government yet economically government was losing millions due to corruption in the private sector. Corruption in the private sector takes many forms, among them bribery, undue influence, fraud, money laundering and collusion. Corruption has the capacity to distort markets and has a negative impact on […]
