Why Pharma & Biomed Companies’ Risk Analysis Processes are Due for a Check-Up
Posted on 07-18-2018 by Lisa Thompson

Just three years ago, Teva Pharmaceuticals, a drug-maker in Israel, disclosed to both the U.S. Securities & Exchange Commission and the U.S. Department of Justice that an on-going internal probe had revealed possible violations of the Foreign Corrupt Practices Act (FCPA) and/or local laws. Ultimately... Read More

FCPA Hangover: Whiskey Maker's $8M Settlement Puts Food & Drink Industry on Notice
Posted on 07-13-2018 by Lisa Thompson

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... Read More

What can companies do to manage bribery and corruption risk better?
Posted on 06-12-2018 by Lisa Thompson

Kathryn Higgs is Director of Transparency International’s Business Integrity Program. Prior to that she was head of ethics and compliance at Tesco and chief compliance officer at Balfour Beatty. In an exclusive interview with LexisNexis, she says that technology has increased the risk of bribery... Read More

Compliance Q&A: ISO 37001 Expert shares insights into boosting the effectiveness of anti-bribery and corruption efforts
Posted on 05-10-2018 by Lisa Thompson

Jean-Pierre Mean is an anti-corruption lawyer who played a leading role in the development of ISO 37001, a recent global standard by which companies can measure their anti-bribery and corruption policies. He is now leading the working group which looks after the implementation of the standard. Mr. Mean... Read More

Regulatory Risk in the U.S.: What Companies Need to Know
Posted on 04-27-2018 by Lisa Thompson

Since its introduction of the Foreign Corrupt Practices Act (FCPA) in 1977, the United States has led the world in efforts to counter bribery and corruption in corporate business that traverses national borders. Now it has gone a full step further with permanent adoption and expansion of its Corporate... Read More

Bribery and Corruption Investigation Highlights 'Foul Play' in College Hoops
Posted on 04-13-2018 by Lisa Thompson

College basketball in the United States is watched by millions and has become lucrative for the universities who compete and the companies who sponsor the teams. But college sport can also carry reputational, legal, and financial risks. We have seen the latest reminder in New York this week, when prosecutors... Read More

CONSTRUCTing a new approach to CSR
Posted on 04-06-2018 by Lisa Thompson

Environmental and social issues driving change in the construction industry Guest Post by Colleen Theron, Director Ardea Since Russia and Qatar won their bids to host the FIFA World Cups in 2018 and 2022 respectively, the construction industry has come under the spotlight for their human rights... Read More

Unlocking Beneficial Ownership a Key Concern in New ABC Benchmarking Report
Posted on 03-29-2018 by Lisa Thompson

Rising concern about opaque and suspect third-party corporate ownership structures is a notable finding in the Kroll / Ethisphere 2018 Anti-Bribery and Corruption Benchmarking Report. When senior executives working in ethics, compliance or anti-corruption were asked to rank the reasons that potential... Read More

What the Lotte Corruption Case Teaches Us About Risk
Posted on 03-05-2018 by Lisa Thompson

Nothing evokes the public and personal perils of high-level corruption more powerfully than photos of the billionaire chairman of a corporate conglomerate being led to a prison bus in handcuffs. Or almost nothing. Images of his 95-year-old wheelchair-bound father, the founder of the conglomerate, leaving... Read More

Lessons Learned: How One Global Economist Evaluates Political and Economic Risk
Posted on 03-02-2018 by Lisa Thompson

For the latest installment of our Q&A series, we spoke with Simon Baptist of the Economist Intelligence Unit (EIU). More than 100 economists and experts at the EIU analyze political and economic risks for some of the world’s biggest companies. As Global Chief Economist and Managing Director... Read More

Rise in Donations Means Universities Need First-Class Due Diligence
Posted on 02-23-2018 by Lisa Thompson

Universities in the United States received a record $43.6 billion in donations from individuals, companies and organisations in 2017. But recent scandals show that universities must not neglect due diligence on the source of these donations. Top marks for university fundraisers 2017 was... Read More

2 in 3 countries have “high corruption burden”: Transparency International
Posted on 02-22-2018 by Lisa Thompson

The world’s most corrupt countries have been revealed in Transparency International’s 2017 Corruption Perceptions Index. The big movers in this year’s index are the UK, whose score has improved by eight points since 2012, and Australia, whose score has fallen by eight. Usual... Read More

Beneficial Ownership to Improve Risk Management
Posted on 09-14-2017 by Ulyana Androsova

Beneficial ownership registries on the rise When the International Consortium of Investigative Journalism published the Panama Papers last April, few knew where the revelations of tax evasion through off-shore accounts and shell companies would lead. More than a year later, the fall-out continues... Read More

Corruption risk lessons from 2017’s major bribery investigations
Posted on 08-23-2017 by Ulyana Androsova

2017 has been a year of major bribery fines, and we are only halfway through the year. In this blog, we review the global trend towards stronger anti-bribery legislation and how companies should mitigate corruption and bribery risk. Major bribery investigations So far this year there have been... Read More

DOJ extends FCPA Pilot Program for self-reporting
Posted on 04-12-2017 by Ulyana Androsova

The U.S. Department of Justice (DOJ) has decided to extend its FCPA Pilot Program, designed to encourage companies to self-report evidence of bribery and corruption, until it feels able to judge the program’s effectiveness. Pilot Program encourages companies to self-report evidence of financial... Read More

Five ABC Compliance Lessons from Samsung Chief’s Arrest
Posted on 02-21-2017 by Ulyana Androsova

The head of Samsung Group has been arrested in South Korea because of major bribery allegations. The details of the allegations offer some important lessons to companies about the importance of compliance to help prevent and mitigate bribery and corruption risk. Allegations Emphasize Bribery and Corruption... Read More

Are You Taking the Right Steps for FCPA Compliance?
Posted on 07-21-2016 by Ulyana Androsova

Fifty-nine—that’s the number of countries mentioned in the 87 corporate investigations through the end of June, according to research by The FCPA Blog . The implication is clear: The reach of the Foreign Corrupt Practices Act (FCPA) crosses oceans and continents, and companies must mitigate... Read More

Three Trends to Consider when Crafting a Due-Diligence Strategy
Posted on 07-13-2016 by Ulyana Androsova

Technology has changed how we see the world. Take volcanos, for example. You can go to an interactive map that shows the current activity level of volcanos—and even click through to see live video feeds of the activity. If only it were that easy to monitor for corruption, but risk management professionals... Read More

Will the UK Bribery Act Be Enough to Curb Corruption after Brexit?
Posted on 06-30-2016 by Ulyana Androsova

Most agree that the UK Bribery Act (UKBA) is one of the strictest pieces of anti-bribery legislation in the world. The UKBA applies to both UK companies operating abroad and for overseas companies with a presence in the UK. Get our complimentary white paper on the UK Bribery Act for a quick overview... Read More

How Will Brexit Impact the UK’s Approach to Tackling Financial Crime?
Posted on 06-24-2016 by Ulyana Androsova

The UK is to leave the European Union, after 51.9% of voters backed a Brexit in yesterday’s vote (23 June). Prime Minister David Cameron has already announced that he will hand over leadership by October. Leaders in every sector are now being forced to consider how this will affect their respective... Read More

Beneficial Ownership: Lessons from the Recent Mossack Fonseca Leak
Posted on 06-08-2016 by Mark Dunn

The leak of 11.5 million documents from Panama-based law firm Mossack Fonseca has focused unprecedented attention on the use of tax havens and trails of secret companies to conceal the beneficiaries of undeclared and illegally obtained money. It emphasizes the challenge corporate due-diligence teams... Read More

How Energy Companies Can Power Up Better Due Diligence
Posted on 06-02-2016 by Amy Canning

Forgive the pun, but it probably won’t come as a shock that the energy industry ranks near the top when it comes to bribery and corruption risk. Some of the largest enforcement actions ever under the U.S. Foreign Corrupt Practices Act have taken place within that sector, including a $365 million... Read More

Has Bribery and Corruption Risk Got You Over a Barrel?
Posted on 05-25-2016 by Ulyana Androsova

Energy industries have received a lot of unwelcome attention lately—and it’s not just oil companies like Petrobras and Unaoil that are feeling the watchful eyes of the public and regulatory agencies. While those scandals may have dominated the news in recent months, it seems that some players... Read More

Get Tips for Powering Up Due Diligence for the Energy Sector
Posted on 05-18-2016 by Ulyana Androsova

No industry is impervious to bribery and corruption risk, but companies linked to energy industries, in particular, face elevated risks in order to reap the equally high rewards. The PWC Global Crime Survey found that energy, utilities and mining saw a 6 percent increase in misdeeds related to bribery... Read More

Panama Papers Put FIFA In the Spotlight for Bribery and Corruption Risk
Posted on 04-20-2016 by Ulyana Androsova

Remember when Michael Corleone said, “Just when I thought I was out, they pull me back in,” in The Godfather Part III? Executives at FIFA and UEFA can probably relate to his frustration after the recent Panama Papers leak put the spotlight of the media and possibly enforcement agencies back... Read More