Wolfgang Schaupensteiner (Senior Public Prosecutor, City of Frankfurt (Germany))
December 11, 2007
Schaupensteiner heads a tiny financial crime unit. Why does that matter? Well, it happens to be for Germany’s financial capital. According to him, his backlog of bribery, fraud and other white-collar crime cases runs into the hundreds. His solution? To advocate for U.S.-style prosecution laws, which would allow him to prosecute corrupt corporations (instead of only individuals, as it currently stands). Without it, corporations have little incentive to prevent corruption or launch internal investigations. Schaupensteiner warns: “Corruption is a booming market, and globalization is facilitating it.”
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