CORRUPTION AND BRIBERY
It is important to understand the levels of corruption and bribery associated with the economic activity of the customer or their associated businesses, in the principle country of business.
Higher risk industries include Mining, Oil and Gas, and Public Works and Construction are particularly vulnerable to bribery and corruption , especially in higher risk countries.
The procurement of business can also be subject to bribery and corruption especially when that business relates to large scale contracts that are often tendered by governments or government agencies, hence a major reason for the requirement to determine whether your client or customer is a politically exposed person ("PEP").
The major data sources for bribery and corruption are Transparency International’s Perceptions Index and the World Bank’s Control of Corruption database. Other internet sources provide information on corruption on a country by country basis.