Compliance and law combine to stem corruption in Brazilian businesses

The EY Brazil Global Fraud Survey found that Brazil is in the top 10 countries for the highest perceived corruption

Whistleblowing against fraud and corruption is worse in certain countries, and perceived corruption varies from market to market. South American corruption problems have historically been among the most severe, and perceived corruption is high in Brazil, specifically. Even though it is more difficult to determine the actual levels of corruption overall, a study has determined that 70 percent of Brazilian executives interviewed believe that corruption is widespread in their country. Ernst & Young (EY) conducts a Global Fraud Survey that publishes those numbers among other conclusions that correspond with its work in fraud and dispute services. Among some of the interesting figures from the 13th EY Global Fraud Survey found are that fraud incidence rates have doubled in the United States over the past two years from 16 percent up from 8 percent and that China, Japan, and Russia have experienced significant increases in fraud incidence reporting.

José Compagño, EY’s Brazil Leader for Fraud Investigation and Dispute Services (FIDS) says that anti-corruption laws are helping to stem the increasing tides of corruption, and Brazil’s recent legislation is an important factor. The Clean Companies Act — as it is dubbed — imposes obligations on foreign and domestic companies operating in Brazil to stem bribery and corruption issues.

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Juliana Kenny

Juliana Kenny is a contributor to, covering a range of topics including patent litigation, conflict mineral laws, executive compensation, and antitrust regulation. Juliana earned B.A.s...

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