Globalization has entered a new phase, posing greater challenges for Anti-Bribery and Corruption (ABC) compliance than before. Two trends are driving these changes. First, a growing number of governments around the world are tightening ABC regulations or introducing new ones. Second, as companies globalize their operations, they rely more heavily on third parties than before to do business in far-flung parts of the world, often in areas where there is high risk of corruption.
This report analyzes some of the key risks companies face when dealing with bribery and corruption. It examines some of the ways in which they are dealing with them and what needs to be done to meet the challenge. A survey of respondents around the world shows that companies are rising to the challenge but that a great deal more needs to be done to create a sturdy ABC compliance structure.
The survey targeted 659 respondents covering 64 countries, with 140 respondents based in Central & Eastern Europe (including Russia), 113 in Western European countries (excluding the UK), 105 from the Asia-Pacific region, 66 respondents in the US, 64 from the South American continent (31 in Mexico), 61 in South Africa and 41 in the UK. Industries were widely represented: banking comprised 20%, life sciences 12%, manufacturing 10% and energy & natural resources 8%.