27 October 2011
Survey shows lack of preparation & training in compliance
Global businesses are failing to prepare for regulatory laws such as the Bribery Act and the US Foreign Corrupt Practices Act, according to Kroll’s annual Global Fraud Report, published last week.
Less than a quarter of UK executives believe their company is well-prepared and less than half have trained their senior managers, vendors, agents or foreign employees in compliance.
Fear of fraud is stifling international expansion, with 46% of respondents indicating fraud dissuaded them from pursuing business opportunities in at least one foreign country.
The report was carried out among 1,200 executives at large businesses in 10 different industry sectors worldwide.
