The 2016 OECD Integrity Forum started this week in Paris, France. Next week, China holds its own B20 anti-corruption forum. But in a world in which there has recently been “an unprecedented level of cross-border cooperation in enforcement” to counter fraud and corruption, there is also stark evidence that pressure continues to bring out the worst in executives. A survey just out states that 42% of those surveyed justify unethical behavior to get the right results.
EY’s 14th Global Fraud Survey 2016, “Corporate misconduct — individual consequences,” says there is a worldwide clamor for enhanced transparency in the world of global business today. Escalating threats of cyber crime, terrorist financing and the recent #PanamaPapers revelations regarding widespread possible misuse of offshore jurisdictions, have increased pressure, it suggests, on governments to act and companies to identify and mitigate fraud, bribery and corruption issues.
The good news is that this EY survey of nearly 3,000 senior business leaders from 62 countries and territories conducted between October 2015 and January 2016, highlights overwhelming corporate support for enhanced beneficial ownership transparency. Some 91% of executives say they recognize the importance of establishing the ultimate beneficial ownership of entities with which they do business.
The full original article can be found at forbes.com