Corruption isn’t something that happens somewhere else, in other countries and committed by other people. Nowhere is corruption-proof, and new rules being introduced in the EU and the U.K. aim to focus compliance officers on the full gamut of risks in all jurisdictions and every sector.

Ruth Prickett graduated from Cambridge University with a BA hons in History and has specialized in business and finance journalism for the past 20 years. She was editor of Financial Management, the magazine...