Dow Jones Risk & Compliance conducted an online survey in February, asking 383 compliance professionals around the world to evaluate their anti-corruption compliance programs and name their top risk concerns.
Eighty of the respondents were in North America, 145 in Western Europe, 119 in Asia-Pacific, and 39 in other countries.
Key findings included:
- 82% of companies have anti-corruption programs in place at their companies, with 72% of them having one for more than two years.
- Fewer than 20% of companies monitor business partners at least quarterly.
- Use of Transparency International’s Index decreased, but it remains the most-used information source about other country’s risks (currently 75%).
A third of compliance professionals reported having lost any business to unethical competitors, which was a decrease from previous years. Among those that reported losses to unethical competitors, almost 60% said it was due to the other company not having to comply with anti-bribery regulations.A
About 30% of the respondents said they spend $1 million or more a year on their anti-corruption compliance program.
Joel Lange of Dow Jones Risk & Compliance said: “With fines by the SEC related to the Foreign Corrupt Practices Act exceeding $1.5 billion since 2010, Anti-Bribery Corruption legislation is in the front of minds for global corporations.”
The complete survey can be found here.
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Julie DiMauro is the executive editor of FCPA Blog and can be reached here.
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