Shipping is “Most Corrupt Industry”
Global shipping has been announced as the most corrupt industry in comparison to any other after it was discovered that it had experienced the most cases of corruption, according to Alexandra Wrage, the President and Founder of anti-bribery compliance expert Trace.
PTI has previously reported on a number of corruption cases, including a Tanzanian Port Authority boss who was suspended indefinitely after allegedly violating procurement procedures.
As reported by Splash 247, Alexandra Wrage, said: “In many ways, the shipping industry is exposed to more levels of corruption than any other industry, as it is a global industry that does not have a mature anti-corruption compliance culture.
“This industry is traditionally very opaque, and has only made a slow shift to greater transparency. Fraud, bribery, and other illegalities are endemic to some parts of the industry, and the world.”
A K-Line executive has also recently been sentenced to 18 months in prison for fixing prices within the car carrier business.