These days, everybody claims to be promoting transparency. In Malaysia, to counter lingering allegations of nepotism and cronyism, Prime Minister Mahathir Mohamad on June 20 released lists of government tenders awarded to private firms. The main point is that this campaign has to engage everybody. Doing so can change a company's image almost overnight. As soon as people know, they realize they can't approach such a company for a bribe or kickback.
Skeptics scoff, insisting that government policing is essential.
But both are needed, says Schloss. Each reinforces the other. Companies wanting to see the business landscape cleaned up should not hesitate engaging the authorities. So far, more than 30 countries have accepted the agreement, which obliges signatories by the end of this year to pass legislation making the bribery of a foreign public official a crime wherever it is committed. Schloss dismisses arguments that implementing tough economic and corporate reforms in hard times may be impossible and could even make conditions worse.