Construction and development, infrastructure, and oil and gas are seen as the most corrupt industries globally.

[F-ish: Interesting that those are among Trump's top priorities.]

For those wondering if the robust 2016 enforcement action by regulators has made a dent in global corrupt practices, the answer is not really. Analyses from Transparency International and the Risk Advisory Group released this week show corruption is alive and well and that due diligence is key to avoid the risk of a misstep when doing business in certain places.

In its first-ever annual study, global risk consultancy Risk Advisory Group found China, Iraq and Nigeria are countries where businesses face the biggest corruption challenges. The firm compiled a Corruption Challenges Index ranking 181 countries based on the local threat of corruption, exposure of foreign investors to corruption and enforcement action and on the availability of clear information to conduct due diligence and mitigate risks. Surveying analysts with on-the-ground experience around the globe, Risk Advisory defined corruption risk as a measure of the level of interest for its due diligence services and the number of enforcement action, combined with the actual findings of corruption uncovered in its investigations.

The “corruption challenge score” includes a measure of opacity of publicly available and accessible information. “We are trying to bring some empirical data to bear on the analysis instead of pure perception [of corruption],” said Bill Waite, CEO of Risk Advisory Group. North Korea, Turkmenistan and Laos top the list of the most opaque countries globally. As far as corruption is concerned, Europe is the most benign place to conduct business, according to the study. Construction and development, infrastructure, and oil and gas are seen as the most corrupt industries globally.

Transparency International found more countries’ scores declined in its Corruption Perceptions Index than improved from a year ago, with 69% of the 176 countries in the ranking scoring below the mid-point. This reflects “how massive and pervasive public sector corruption is around the world,” the organization said in a statement. Denmark, New Zealand and Finland are the least corrupt countries, while Somalia, South Sudan and North Korea are seen as the most corrupt. The apparent inability of certain political leaders to tackle corruption is contributing to a surge in populism, said TI, as citizens are tired of empty promises from politicians to address the problem. The danger is populism tends to exacerbate corruption, it warned.