ABSTRACT
This chapter examines emerging markets in the context of globalization and the heightened risk of fraud and corruption in these markets. Emerging markets are national economies that are in positive transition, are undergoing rapid growth and are emerging as key players in the global business community. The leading emerging markets today are Brazil, China, Egypt, India, Indonesia, Mexico, Russia, South Africa, South Korea and Turkey. These markets are not only experiencing economic growth, but also changes in their political, social and cultural activities. The political and economic frameworks in developing markets offered lesser incentives for companies to reduce corruption for two related reasons: first, there was often an absence of economic incentives to reduce corruption. Globalization is a transitory process that affects the political, economic and social arenas in both emerging and developed markets. All multinational companies bear the added pressure to reduce their risks in unregulated emerging markets.
