A whole of lot of energy has been expended on anti-fraud measures in the U.S. and attempts to measure how well they are working. The fact is that the U.S., though it hasn't been easy, has done a relatively good job; I say relatively.  

The United States is one of the world's 20 least corrupt countries, and American companies are the ninth least likely to bribe others in order to do business, according to Transparency International's 2007 Corruption Perception Index. (This from the Motley Fool). You can thank Sarbanes-Oxley and other laws for this. Did you really think we'd be No. 1?  

The fact is we live in an increasingly globalized economy. The Fool notes China and India are considered among the places where bribery really thrives. They rank 72 on the Corruption Perception Index. So what does this amount to? Sadly, for some executives, the answer is temptation. There is huge pressure to win overseas contracts right now, and people have long battled the "when in Rome" urge.  

Regulators seem to be onto this. Bribery is a tricky area that falls under the Foreign Corrupt Practices Act. The Department of Justice has initiated more enforcement actions in the last year and a half than during the six years from 2000 to 2005. Oil companies have borne the brunt of that effort. I ask again, how do you control for this sort of thing? We'll likely see more overseas bribery cases. You want to make sure your company is as immune as it can be, but that's easier said than done. - Jim