Compliance w/ Foreign Account Tax Compliance Act (FATCA) and Foreign Corrupt Practices Act (FCPA)
Certain countries are regarded as having a higher degree of endemic business corruption (and thus potential 3rd-party risk) than others. The respected Transparency International Index of Perceived Corruption lists its highest risk countries (of significant transaction volume) as:
- Russia
- China
- Pakistan
- India
- Vietnam
- Brazil
Investment in or from those countries compel a heightened level of diligence, and will attract greater regulatory scrutiny.
