Fear of Corruption Dissuades Overseas Investment, Due Diligence Lacking, Kroll Says

Fear of fraud is dissuading many companies from doing business in at least one foreign country, according to survey results from Kroll’s fifth annual Global Fraud Report.

The international risk consulting company between June and July 2011 polled over 1,200 senior executives worldwide, from an array of industries and functions. Forty-six percent of companies surveyed were dissuaded from operating in at least one foreign country, Amy Malsin, Kroll senior marketing director, told BNA. Of those, 62 percent cited corruption as one of the main reasons for not investing.

There is no question that fear of corruption, procurement and information fraud ...