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Anti-corruption enforcement strengthens but problems remain

Date: 14 May 2008

Anti-corruption measures have become stronger around the world, according to nearly 70 percent of executives surveyed for a new report, however around a third say that corrupt business practices are still getting worse.

The report by Ernst & Young gives evidence that regulatory authorities and law enforcement are cooperating more frequently over cases of corruption. Companies are also recognising the risks of corruption and doing more to combat it, although confusion over relevant anti-corruption legislation undermines compliance in a number of areas.

According to the report, the US Foreign and Corrupt Practices Act (FCPA) has become the de facto international standard regarding bribery and corruption given the US authorities' more aggressive use of it. The majority of business executives, however, have yet to attain a good knowledge of its provisions.

More than half of companies are increasing training on corruption, with 45 percent carrying out anti-corruption due diligence before making corporate acquisitions.

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