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Private Sector Corruption Perceived To Be Rising - Survey

PARIS (AFP)--Populations hit by the global economic crisis see rising bribery levels in the private sector, a new survey by the global anti-corruption watchdog Transparency International showed Wednesday.

Asked how they perceived different domestic institutions, half of the respondents to the survey said they saw the private sector as corrupt, an increase of eight percentage points compared with five years ago.

"These results show a public sobered by a financial crisis precipitated by weak regulations and a lack of corporate accountability," Huguette Labelle, head of Transparency International, said in a statement.

"What is needed now is bold action by companies to continue strengthening their policies and practices, and to report more transparently on finances and interactions with government," she said.

The survey questioned 73,132 people in 69 countries between October 2008 and February 2009. In Russia, 70% of those questioned said domestic companies often used corruption to influence government policy.

There were high rates of perceived private sector corruption also in Canada, Denmark, Hong Kong, Iceland, Luxembourg, Moldova, the Netherlands, Norway, Portugal, Singapore, Spain and Switzerland.

  (END) Dow Jones Newswires
  06-03-091209ET
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