Even with US$11b of fines, global corruption is still at a high: EY

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SINGAPORE (May 7): Since 2012, regulators and law enforcement agencies around the world has imposed more than US$11 billion (S$14.7 billion) in financial penalties, but the scale of bribery and corruption has shown no improvement globally, according to the 15th EY Global Fraud Survey.

The survey also found that 38% of global executives believe that bribery and corrupt practices remain prevalent in business, and 10% of the Singapore respondents shared similar perspectives.

Fortunately, perception levels of bribery and corruption in Singapore remains low, affirming that that the anti-corruption culture that Singapore has taken effort to build over the years... (Click here to read the full story)