To my dear children

(Balzli , Deckstein Schmitt 2007 . Thus , when Siemens AG listed its shares on United States ' New York Stock Exchange (NYSE ) in 2001 and it was subjected to stringent American anti-bribery measures the managers desisted from counting cash in office (Balzli , Deckstein Schmitt 2007 . Instead , they turned to the use of cash cheques to perform the same operations . The cheques were deposited in various accounts but the company did not keep records in its own books so that it could make more nefarious payments (Balzli , Deckstein Schmitt 2007

In to disguise the underhand

operations , Siemens AG managers outsourced most of its accounts works to business consultants ' so that no it would not be culpable in any secret operation would be unearthed (Economist .com . In bid to cover their operations further the managers of the company used more eccentric mean to avoid being found (Balzli , Deckstein Schmitt 2007 . When they authorised the bribery payments , they used removable sticky notes , which would be easily destroyed to conceal all evidence of any transaction (Fernando Bellamkonda 2007

The sums of money transferred by the managers of Siemens AG were staggering . According to Balzli , Deckstein and Schmitt (2007 , a of 805 million was handed over by the company to foreign officials in bribes . The money handed out was aimed at ensuring that Siemens won as many contracts as it could in many foreign markets (Economist .com . In other instances , the bribes were meant to woo labour representatives in supervisory areas to support Siemens AG policies when they would obviously need to rejected (Fernando Bellamkonda 2007 . Along this line , Fernando and Bellamkonda (2007 ) note that the German government 's stance on bribery was perhaps a contributing factor in Siemens AG 's underhand operations . This is because many companies understood that the German law and even the law in...