As it does every year, Transparency International released the Corruption Perceptions Index (CPI), which revealed that the fight against corruption is stagnant worldwide, with little or no progress in the last 10 years. This grim scenario was exacerbated by the pandemic, which led to relaxing controls and increasing procurement via direct deals. Countries such as Venezuela, Nicaragua, Honduras, and Haiti are among the Latin American countries with the worst rankings for corruption-perception issues.

This is alarming news for U.S. corporations with subsidiaries in Latin America. It is a matter of concern for corporate leaders and board members of these organizations because when the fight against corruption does not gain ground, employees face more exposure to bad practices that can cause severe corporate damage, both in terms of reputation (because of media exposure) and finances (because of fines and litigation).