Naïve Swedish firms

Swedish companies are naïve in their approach to corruption, finds EY (formerly Ernst & Young) in their annual fraud survey of corporations in Europe, the Middle East, India and Africa.

According to EY, Swedish companies fail to follow up on anti-corruption policies and also fail to give employees the necessary training to detect fraud. A mere 13% of Swedish firms run background checks on suppliers and other partners, while the European average is 18%. In addition, many Swedish firms have failed to build up a robust whistle-blower mechanism.