Survey Results Shine Light On Financial Fraud Concerns

Excerpt via Financial Fraud Law.

Another Big Year for Bribery: Recent interest by the SEC and DOJ in cracking down on foreign corruption has led to a jump in FCPA matters. One-quarter of both large-cap respondents and public company respondents have engaged outside counsel in the past 12 months to assist with a bribery or corruption investigation – up from 17% in last year’s survey. The rate of investigations has been rising across the board: in the past three surveys, Fulbright has asked respondents whether their companies engaged outside counsel to assist with a corruption or bribery investigation in the prior year. In 2008, 7% of all respondents engaged outside counsel for an investigation; in 2009, the rate jumped to 12%; and this year, the rate went up again, to 16%.

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