A global fraud survey by Ernst & Young shows that although companies are recognising the risks of corruption and are doing more to combat it, knowledge of relevant anti-corruption legislation remains patchy, undermining compliance efforts. However, corruption itself remains a significant problem for business.

The survey found that anti-corruption enforcement has become stronger around the globe over the past five years, according to nearly 70 percent of respondents.

"Their perceptions are supported by the fact that regulatory authorities and law enforcement are cooperating more frequently. At the same time corruption itself remains a significant problem for business, with more than one-third of survey respondents saying that corrupt business practices are becoming worse. In this environment, executives and board members face daunting challenges around their compliance obligations," said the researchers.

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