Globalization has entered a new phase, posing greater challenges for anti-bribery and corruption (ABC) compliance than ever before. Two factors are creating new issues for companies, according to a new report by KPMG International. 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 a high risk of corruption.
A survey of respondents around the world, conducted by KPMG International, 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. For full details, read the report Anti-bribery and corruption: Rising to the challenge in the age of globalization.
The main findings of the survey include:
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