Category: Anti-Corruption Training

Can Compliance Awareness Save The Holiday Season?

With the holiday season in full swing, we’re all thinking about decorations, gifts, cards, holiday parties, and anti-bribery and corruption law. No? Not everyone? The festive season is a great time to celebrate and show appreciation for your colleagues and customers. Who doesn’t appreciate a nice gesture in the spirit of giving? But, hold your reindeers - of course there’s a catch. Nobody wants to be the office Scrooge, but it’s our responsibility to ensure that our organizations are mindful of the risks associated with gift-giving – even during the holiday season.

The Cost of Corruption

“Organizational corruption imposes a steep cost on society, easily dwarfing that of street crime.”– The Normalization of Corruption in Organizations, Blake E. Ashforth and Vikas Anand. Organisational corruption is a serious and widespread issue that still plagues many industries today. Corruption is, in essence, the abuse of power, and in some cases, the inducement to carry out an illegal or dishonest act by means of a bribe.

Did You Know? Bribery & Corruption Is Not Always Clear or Direct

Did You Know? Bribery & Corruption Is Not Always Clear or Direct Not all anti-bribery and corruption compliance training topics have a direct impact on front line staff and supervisors, but awareness is still very important. This article will explore three corporate-level topics that every employee should understand: M&As, IPR and lobbying.   Mergers, Acquisitions, Divestitures These major business deals involve a transfer, takeover or combination of assets and companies that’s continues business functioning.

Raising the Bar on Fraud Protection & Money Laundering

Raising the Bar on Fraud Protection & Money Laundering The quality and effectiveness of an anti-money laundering compliance program depends on commitment, continuous training and executive oversight. The best time for employees to identify suspicious activities is before transactions are completed, so these industry best practices will ensure transparency and high quality protection.   Impeccable Leadership More and more companies are hiring chief compliance officers (CCOs) to help oversee their financial operations. The SEC states that CCOs play a critical role in maintaining financial integrity. They generally have three primary duties.

Currency 101: Anti-Money Laundering Compliance

Currency 101: Anti-Money Laundering Compliance The United Nation’s Office on Drugs and Crime (UNODC) states that anywhere between two to five percent of the global GDP is generated through money laundering. This equals approximately two trillion U.S. dollars. Money laundering is a criminal activity that involves hiding or disguising the source, nature, location or ownership of money that was illegally obtained.

Being Cautious with Risks: Anti-Bribery and Corruption Training

Being Cautious with Risks: Anti-Bribery and Corruption Training Being cautious is a critical aspect of Anti-Bribery and Corruption compliance training, and is important for both internal and external parties. Third-party diligence and comprehensive vetting processes are some of the best ways to avoid DOJ and SEC investigations and penalties. When planning and developing training content, it may help to incorporate risk assessments that identify vulnerabilities in third-parties.   Internal Assessments Researching and documenting the current state of compliance and training will help identify weak processes and knowledge gaps.

What You Need Before Anti-Bribery & Corruption Training

What You Need Before Anti-Bribery & Corruption Training The Department of Justice (DOJ) and Securities and Exchange Commission (SEC) issued dozens of corporate enforcement actions in 2016 that resulted in almost 2.5 billion dollars in fines. 90 percent of the penalized organizations were global corporations. In 2017, both a medical device manufacturer and mining company have each been fined 30 million dollars for improper payments and anti-bribery violations.

Attacking Anti-Corruption: Troubleshooting in Your Organization

Attacking Anti-Corruption: Troubleshooting 101 The goal of compliance training is to provide managers and employees alike with guidelines to follow in cases of corruption or fraud. But what happens when, despite all the training, the policy is ignored by the company? Anti-Corruption policy is a serious matter that must be addressed head on. The reasons for this breakdown are varied, and include lack of pre-policy risk assessment, failure to determine how daily routines might affect reporting, and managerial indifference to reporting policies.

Make Tackling Corruption and Anti-Bribery High on Your Organization’s List

Are you ready to tackle corruption and anti-bribery within your organization? This is actually a task that’s high on the list for priorities that concern many organizations. It’s not that your employees or colleagues would necessarily be involved in bribery or corruption on purpose. A lot of times they are not even aware of their responsibilities where this is concerned. The legal liability is not always known or understood and can be triggered by something as simple as an improper disclosure.

Anti-Corruption Training: Helping to Recognize the Signs

Anti-Corruption Training: Helping to Recognize the Signs Corruption, unfortunately, is prevalent in so many corners of every industry. Recognizing the signs of corruption can be difficult as corrupt individuals become more and more crafty about how they move about. Anti-corruption training can be the key to not only reducing corruption but in preventing future issues. For many people recognizing corruption can be difficult because they are not even sure how corruption should be defined.