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.
Société Générale will pay $1.3 billion to settle allegations of breaching U.S. sanctions. But banks aren’t the only organisations that face elevated compliance risk. Check out our blog on the high cost of sanctions violations.
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?
As political fortunes wax and wane, sanctions regimes can change too. Find out more about the current sanctions climate and best practices for mitigating sanctions risk through duediligence and ongoing risk monitoring.
What does the regulatory landscape in the UK look like? We highlight the key compliance issues that organisations face in our latest blog.
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.
As enthusiastic football fans crowded into pubs and bars around the world, the larger-than-usual demand for CO2 led to a shortage that could have a far-reaching impact of the Food & Beverage #supplychain. How do you effectively mitigate risk—whether from supply chain disruption or changing regulations? We look at some of the latest issues that highlight the importance of real-time risk monitoring in our latest blog post. Take a look!
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.
More than 18 million people are victims of forced labour—but a new ethical sourcing standard could help. Get the details on the BES 6002 launched by BRE and the value it offers in our latest blog post.