Dealing with bribery and corruption risks requires action that goes beyond just developing an anti-corruption policy and having anti-corruption training. There is a growing recognition that organizations must have robust and proactive measures built into their policies, processes and internal controls in order to prevent bribery.
It’s estimated that more than US$1 trillion is paid in bribes globally each year and that US$2.6 trillion is lost to corruption. That alone represents 5% of global GDP—with the actual figure probably even higher.
The risks are real. As a result, our global Forensics team has launched a new white paper that discusses five themes we believe will shape the global anti-bribery and anti-corruption landscape over the next five years:
In the Canadian marketplace, companies are increasingly encountering incidents of corruption as they become more global and expand their business footprint. We are seeing a rise in bribery and corruption cases in the mining, oil and gas, engineering, construction, real estate, financial services and pharmaceutical industries.