How do companies record bribery and facilitation payments in their accounts? SEC filings show the creative range of terms used by companies to disguise such transactions: “Corporate marketing expenses”, “off trade promotions”, “business introduction services”, “customer support”, “consultancy services”, “offshore marketing agreements”, “success fees”, “professional training”, “commissions”, “travel sponsorship”, “bonus programs”, and “general consulting services”, “site acquisition services” and “service fulfillment of contract”.
FP charts the lengths to which Swedish telecoms giant Ericsson, despite an official policy restricting the use of third parties, went to mask influence-peddling schemes in China, which included hosting officials on luxury trips to London and Las Vegas.
