In the age of specialization, many organizations turn to intermediaries to do business – especially as “feet on the ground” in foreign countries. They take the form of partners, suppliers, distributors, or agents, and large organizations can have 1,000s doing work on their behalf at any time.
But, what if they engage in corrupt or illegal business practices? In some places in the world, practices such as bribery, money laundering, bid-rigging, and price fixing are considered in the normal course of doing business. A global E&Y survey of Chief Compliance Officers found 39% of respondents reported that “bribery or corrupt practices occur frequently in their countries, and in emerging markets, a majority of respondents believe these practices are common.”