A leading corporate risk consultancy firm has stated that corruption is the single greatest concern for investors coming to Colombia, according to Radio Caracol.
Company director for Kroll Latin America, Andres Otero, said during a radio interview that corruption has long been a problem in Colombia, but that it has come to the fore in recent years as the government has begun to investigate occurrences.
This increase in public awareness has been further influenced by recent high profile cases, such as the Nule and Agro Ingreso Seguro scandals. According to the director, the fact that the government has succeeded in prosecuting and ensuring prison sentences for those involved is a positive step, adding that the private sector now needs to follow suit.
Calculations conducted by Kroll have calculated that corruption costs Colombian businesses 2% per annum. According to Otero, the sectors with the highest level of fraud are oil, mining, public agriculture and finance.