Partner & Managing Director, New York
For our fifth annual global anticorruption survey, we polled more than 300 general counsel and compliance officers on the impact that corruption risk has on their businesses. Our report explores the challenges facing corporate legal departments today and why technology and data analysis continue to play an important role in managing risk.
Corruption is a global problem but some regions and companies are riskier than others
Respondents said that it is becoming tougher for their companies to steer clear of potential risk. 67% believe there are locations where it is impossible to avoid corrupt business practices, namely Russia (35%), Africa (33%) and China (27%).
Data viewed as being critical to investigations, but still poses challenges
The survey found that 87% believe their companies use data successfully to identify possible corruption. Across all industries and sectors, data and system security continues to present concrete opportunities in 2017, with 67% of survey respondents using real-time monitoring for suspicious activity.
Opportunities ahead: internal audits and anticorruption compliance policies
In response to the heightened enforcement environment in recent years, companies have adopted more controls and compliance policies. Among the most successful measures implemented to reduce corruption risk, internal audits and anticorruption compliance policies take the lead for survey respondents (84%).
AlixPartners released its 5th annual global anticorruption survey. Intended to determine the impact of corruption on the global business environment and understand ways in which companies are dealing with corruption risk, the survey shows that companies continue to be concerned with corruption risk and have increasingly stopped doing business with certain partners (42%, up from 32% last year) or lost business (31%, up from 23% last year) due to corruption risk. Respondents included corporate counsel, legal and compliance officers from more than 20 major industries in the United States, Europe and Asia.
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