[JURIST] There are still persistent levels of unethical business conduct around the world as there has been great political change and increased economic uncertainty, stated Ernst & Young’s Fraud Investigation & Dispute Services [corporate website] in their 2017 Fraud Survey [text, PDF] released on Thursday. The survey focuses on Europe, the Middle East, India, and Africa. Nearly 1 in 5 respondents would be prepared to act unethically if it would benefit them and 2 in 5 believe their colleagues would also do so. The report states that the current world events line up with the feeling of discontent that comes from the results of the survey this year. “Businesses are operating in an increasingly uncertain world driven by a period of rapid political, regulatory, and economic change. This environment has created new risks for companies as they seek to meet ambitious revenue targets.”

There has been an effort to crack down on fraud and unethical business behavior in recent months. In March the UK Supreme Court ruled [JURIST report] on Wednesday that the Financial Conduct Authority (FCA) did not misidentify former JPMorgan official Achilles Macris in its penalty notice in connection with the “London Whale” Scandal. The same month the EU said [JURIST report] that Moldova needs to do more to encourage an independent judiciary and investigate bank fraud. In February China said it would begin imposing harsh punishments [JURIST report] on those involved with illegal financing activities, with a particular focus on underground banking and the stock market, following a string of scandals.