More Than $11 Billion in Fines Fails to Deter Global Corruption
The scale of bribery and corruption has shown no improvement globally since 2012, despite the unprecedented level of enforcement activity and introduction of new corporate criminal liability laws in that time. This is according to the 15th EY Global Fraud Survey.
This year’s survey found that despite regulators and law enforcement agencies around the world imposing more than $11 billion of financial penalties since 2012, 38% of global executives still believe bribery and corrupt practices remain prevalent in business.