In 2006, several symbolic companies of the German economy (Siemens, Volkswagen, Daimler Chrysler, etc…) have been hit by notorious corruption scandals. Siemens wins hands down with its nearly 420 billion euros siphoned off into secret funds for payment of bribes in order to win markets abroad. At Volkswagen, the former personnel director, Peter Hartz, financed for years the bank account and escapades of works committee President Klaus Volkert. The revelation of such scandals is partly due to the tightening of anticorruption legislation in Europe and in the United States (ECDO convention in 1999 or “Sarbanes-Oxley Act” in 2002), as well as to the action of legal services specialized in economic crime with the trail being frequently opened by anonymous denunciation of a disappointed employee. On every occasion, the German courts focused on the malfunction of internal control systems.
ion in 1999 or “Sarbanes-Oxley Act” in 2002), as well as to the action of legal services specialized in economic crime with the trail being frequently opened by anonymous denunciation of a disappointed employee. On every occasion, the German courts focused on the malfunction of internal control systems.
Late measures.
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