Perception of widespread corruption in business is still stubbornly prevalent, especially in emerging markets, according to new data from EY Global Fraud Investigation & Dispute Services.

EY’s 15th annual Global Fraud Survey, which included responses from 2,250 executives across 55 countries, indicated that despite new legislation governing corruption and fraud in the private sector and $11 billion in fines levied globally in these matters since 2012, this belief about corruption remains.