Middle East business leaders are almost twice as likely as their global peers to say that they expect to be confronted by bribery and corruption, a survey shows.
In interviews with 126 regional executives, accountancy firm PwC found 39 per cent think they will face bribery and corruption this year, compared with the global average of 23 per cent.
Although a longstanding problem, fraud is emerging from the shadows as Middle Eastern governments take more serious action against bribery, in a bid to attract foreign capital and assuage domestic political concerns. Government efforts are in turn minimising the stigma involved in companies admitting the existence of internal fraud and seeking to prevent it.
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