Back in 2003, I took a job providing corporations with intelligence to help them manage political and operational risks in the Middle East and Africa. This turned out to be a perfect vantage point from which to observe how multinationals respond to shifting norms and laws—in this case, those related to corruption risk.
Most of my clients were large Western multinationals (and their lawyers and bankers) in oil and gas, mining, telecommunications, or infrastructure. For an opportunity to make vast profits, they accepted elevated risk: foreign investors had to cope with an unpredictable landscape where success might depend heavily on the whims of government ministers. It was easy to end up on the wrong side ...
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