Three quarters of the world’s biggest exporting countries are failing to punish corporations that pay bribes overseas, according to a new report from the NGO Transparency International. The report shows that there are vast differences in the level of risk of bribery and corruption in different countries.
Petrobras has reached a $1.78 billion settlement with the DOJ and SEC over bribes to politicians and political parties in Brazil. This is the first time an enforcement action over FCPA violations has exceeded a billion dollars. The amount is bigger than the nearest two settlements combined, and the case emphasises the importance of PEPs due diligence.
The U.S. Corporate Enforcement Policy, which incentivises companies to self-disclose bribery and corruption when they come across it, now applies to U.S. companies which are merging with or acquiring foreign companies. That’s according to a recent speech by a senior official at the Department of Justice (DOJ). If M&A is in your future, do you have appropriate due diligence and risk monitoring processes in place?
Why are more companies adding Chief Compliance Officer to the C-suite roster? Read how corruption regulations are bringing more visibility to risk mitigation functions on our blog.
Investors and consumers are rewarding companies for their CSR initiatives, but what happens when a director falls short on fiduciary duties? Read more about personal liability and the UK Modern Slavery Act.
The makers of Jim Beam whisky have paid $8 million to settle allegations of bribing government officials to enter the Indian market. The settlement is a timely reminder of the continued threat of FCPA enforcement action, and the particular risks posed by third parties in the food and drink industry.
In our ongoing series of thought-leader Q&As, we interviewed Kathryn Higgs, Director of the Transparency-International Business Integrity Programme, sharing her thoughts on the role of technology in both increasing risk exposure and aiding in risk management. Read about it on our blog.
Two steps up for U.S. compliance: Encouraging voluntary disclosure and outlawing anonymity on the international bribery and corruption front. Get details about the changes on our newest blog post.
Is corporate sustainability sustainable? While some have their doubts, a fund created by the UN Global Sustainability Index Institute is changing minds. In the fund’s first year of operation, it yielded a 27.63 percent return. Read how these impressive results are another reason for committing to CSR.
When you hear the words ‘artificial intelligence,’ what comes to mind? If your mind turns to a Hollywood blockbuster, you aren’t alone, but machine learning—a narrow branch of AI—is transforming how organisations identify risk. In