EY’s 14th Global Fraud Survey 2016: Corporate misconduct – individual consequences finds a worldwide clamor for enhanced transparency at a time of increased geopolitical tensions and heightened volatility in financial markets. The escalating threats of cybercrime, terrorist financing and, more recently, the revelations regarding widespread possible misuse of offshore jurisdictions (“possible” ?? – ed), have increased pressure on governments to act and companies to identify and mitigate fraud, bribery and corruption issues.
Conducted between October 2015 and January 2016, the survey of nearly 3,000 senior business leaders from 62 countries and territories highlights overwhelming corporate support for enhanced beneficial ownership transparency, with 91% of executives recognizing the importance of establishing the ultimate beneficial ownership of entities with which they do business.