E&Y: Global Fraud Survey 2016

644

September 2016

Never before have governments and multinational institutions cooperated so extensively in combating bribery and corruption. The transnational nature of the issue led the G20 major economies to recognize bribery and corruption as an important impediment to economic growth and the group’s focus on corruption has continued under its Chinese presidency in 2016. The G20 outlined its priorities in the “2015-2016 G20 Anti-Corruption Action Plan” identifying key areas where economies and multinational organizations must strengthen their cooperation.

The respondents to our survey suggest this move has popular support – 91% of respondents believe it is important to know the ultimate beneficial ownership of the entities with which they do business.