What’s the link between #corruption and the UN Sustainable Development Goals? With both International Anti-Corruption Day and the 70th anniversary of the UN Declaration of Human Rights happening within a few days, we take a look at the threat of corruption, its impact on people around the globe, and how companies can mitigate corruption risk, stay #UnitedAgainstCorruption and #StandUp4HumanRights.
Corruption in Defence Industry … Why is corruption risk so high and how can companies meet compliance expectations of FCPA and other anti-bribery regulations?
In our ongoing Expert Q&A series, we spoke with Rajita Kulkarni, President of the World Forum for Ethics in Business (WFEB). She shares the importance of ethics, good governance and sustainability and how companies that meet such high standards realize additional benefits. Check out the full interview on our blog.
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.