Career progression is far more important than ethical behaviour for a significant number of working professionals in India, a survey has found.
About 41 per cent of Indian respondents said they are prepared to act unethically to enhance their own career progression or remuneration package, according to the survey conducted by professional services firm EY.
According to EY's Europe, Middle East, India and Africa (EMEIA) Fraud survey, 41 per cent of Indian respondents would not report fraud, bribery or corruption incidents due to loyalty to colleagues.
Globally, 1 in 5 respondents said they would be prepared to act unethically for their careers.
The survey said 44 per cent Indian respondents admitted they are unlikely to report fraud, bribery and corruption concerns if it could hamper their future career development within the company. Professional services firm
"The perception of fraud and corruption in corporate India has seen a marginal but positive shift, led by amplified regulatory scrutiny and emphasis on transparency and governance.
"However, unethical behaviour at the workplace, including Gen Y, has become a serious cause of concern," EY India Partner and National Leader, Fraud Investigation and Dispute Services, Arpinder Singh said.
While improved enforcement action has restored confidence in businesses, companies should encourage millennials to strengthen their moral compass, communicate the importance of upholding ethical standards and develop programs to motivate future leaders make right choices, he said.
Only 30 per cent were aware of whistle-blowing hotlines used for monitoring compliance with anti-bribery and corruption laws, while 20 per cent assented to withholding information or concerns due to internal pressure.
The survey said 59 per cent would report concerns around unethical behaviour to a law enforcement agency, 52 per cent to a regulator.
The exercise was conducted by EY's Fraud Investigation and Dispute Services and evaluates the current state of fraud, bribery and corruption in the EMEIA region.
About 79 per cent of Indian respondents felt that prosecuting individuals would help deter fraud, bribery and corruption.
Further, it said 52 per cent feel regulatory activity has had a positive impact within the company and industry.
Monitoring data sources could help organisations curb risk of fraud, bribery and corruption, while many respondents considered these a violation of their privacy, it said.
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