Document summary
World Bank estimates put global per annum bribes paid at USD1 trillion. However, regulations are now stronger than ever and this trend is set to continue. CA Cheuvreux looks at the relatively recent recognition of bribery as a business risk, and at the companies and some of the sectors most affected. This report aims to help investors protect themselves against a specific and growing reputation risk and serves as both a primer on the theme and an analysis of some key sectors and companies.