Business opportunities abroad can be an entrepreneur’s dream. The risks of corruption and fraud overseas can be a nightmare.
Steering clear of shady business is hardly a new idea for the United States: The Foreign Corrupt Practices Act long ago made it illegal to bribe foreign officials and requires companies to report violations to the authorities. Today, however, FCPA cases are being prosecuted in record numbers and fines are hitting new highs. So boards and executives are studying ever more closely their risks of bribery, shakedowns, and other corruption that can happen overseas but still put them in the witness box back home.
