Firms ‘spend €800bn on Third World bribery’

COMPANIES doing business in the developing world spend nearly €800 billion a year bribing officials and politicians — 20 times more than the current spend on international aid.

Transparency International will warn today that there is little to prevent companies in Ireland being part of the multi-billion bribe industry.

The leading global organisation that fights corruption is highly critical of Ireland’s inadequate laws in its report to be published today.