A new survey of general counsels and compliance officers found that 30% of companies in North America, Europe, and Asia stopped doing business with a partner because of corruption risks.
The survey results published this week by FCPA Blog-sponsor AlixPartners found that Africa and Russia are perceived as the areas representing the greatest risk.
Fifteen percent of the respondents said their companies pulled out of an acquisition because of possible corruption at the target company.
“This research highlights the fact that despite continued efforts by companies to address anti-corruption, these risks remain pervasive — risks that are of particular concern given recent increases in cross-border enforcement,” according to Harvey Kelly, head of AlixPartners’ investigations practice.
Twenty-two percent of the respondents said they received a tip related to bribery or corruption through their company’s hotline during the past 12 months.
The surveyed executives said the biggest challenges in their anti-corruption and anti-bribery efforts were staffing constraints, the need to develop policies tailored to the countries in which the companies do business, and pressure to deliver operating results, AlixPartners said.
The full survey of general counsels and compliance officers from AlixPartners is here.
Richard L. Cassin is the Publisher and Editor of the FCPA Blog. He can be contacted here.