New business idea offers early warning on corruption

(Swiss Info): The rising tide of anti-corruption legislation and the growing cost of reputational damage are forcing companies to be more careful about who they do business with. Steering clear of laundered money, organised crime, bribery and trading sanctions is a priority. One enterprise, formed to help Swiss banks comply with money laundering rules, specialises in keeping firms out of hot water. Despite their best efforts, many multinationals still sometimes find themselves on the wrong side of the law. This year, Swiss firm ABB was fined after a bribery probe while Credit Suisse was also forced to pay up for dealings with countries subject to United States sanctions.

Doing business on a global scale has turned into a minefield and the rising costs of negotiating a safe path have spawned a new industry that allows companies to outsource some of the expensive research.