Swedish bosses ‘more likely to be crooks’

Swedish bosses are more likely than their counterparts in other countries to commit crimes against their companies.

A survey by international consultancy firm Price Waterhouse Coopers showed that Swedish companies were in general less likely to be victims of crimes than companies elsewhere in Western Europe.

Thirty-five percent of the 75 Swedish companies and government agencies asked said that they had been victims of financial crimes in the past year.

However, people in the most senior level of management in Sweden were more likely to have fiddled their own companies than top bosses elsewhere in the world.

“In Sweden we have a culture in which decision making is based on trust rather than controls and follow-up,” PWC’s Ulf Sandlund told Dagens Nyheter.

Common crimes include bosses who allow suppliers to overcharge their companies, then share the proceeds. Others sell products at a knock-down price to friends or relatives, Sandlund said.

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