Sponsorship reversal shows compliance risks to art world
Posted on 07-11-2019 by Lisa Thompson

One of Britain’s most famous art institutions has reversed a sponsorship deal after it was revealed that the sponsor’s owner had backed a ban on teaching LGBT issues. As art organizations, universities and non-profits become more reliant on sponsorship rather than government funding, they... Read More

Compliance beyond the corporate perimeter: Department of Justice guidance on evaluating compliance program effectiveness emphasises third-party due diligence
Posted on 07-09-2019 by Lisa Thompson

Is your corporate compliance program up to scratch? That question will be top of mind for global organizations as they analyze recent guidance from the U.S. Department of Justice (DOJ) on evaluating the effectiveness of compliance programs. The detailed guidance explains the features of robust compliance... Read More

U.S. releases new sanctions compliance guidance
Posted on 06-24-2019 by Lisa Thompson

The U.S. Office of Foreign Assets Control (OFAC) has released new guidance on strengthening sanctions compliance programs for companies based in or conducting business in the U.S. In the same month, there have been developments in sanctions in the U.S., China, Russia, Ukraine and Iran, and signs that... Read More

Industry experts on the need for ongoing risk monitoring
Posted on 06-19-2019 by Lisa Thompson

Turbulence appears to be the new normal in today’s global risk landscape. Political turmoil, changing regulations, disruptive weather events, financial instability and a variety of other factors can disrupt supply chains or involve companies in legal actions that result in devastating financial... Read More

How audits help companies avoid risk management angst
Posted on 05-07-2019 by Lisa Thompson

Many people cringe when they hear the word ‘audit’ because it is almost inextricably linked with ‘tax’—another cringe-worthy topic. Admittedly, audits can be uncomfortable; very few people enjoy time spent under a microscope. But as the Institute of Internal Auditors (IIA... Read More

How to message with due diligence
Posted on 05-06-2019 by Lisa Thompson

In March, the U.S. Department of Justice (DOJ) issued revised guidance for the Foreign Corrupt Practices Act’s (FCPA) Corporate Enforcement Policy (CEP) concerning the adoption of rules and regulations around the use of ephemeral messaging platforms, such as Snapchat, WeChat or Telegram for business... Read More

Trust starts with honesty
Posted on 04-30-2019 by Lisa Thompson

Today is National Honesty Day. It’s an ironic ending to a month that begins with the mischief and mayhem of April Fool’s. But in an era marked by declining trust in institutions, honesty is a hot commodity. And while trust in government and the media remain subpar, the corporate world has... Read More

Is worker welfare part of your corporate social responsibility commitment?
Posted on 04-26-2019 by Lisa Thompson

The World Day for Safety and Health at Work is a time to focus on issues that range from simple office practices (watch your posture) to slack attitudes or procedures that lead to devastating consequences on a massive scale. The International Labour Organization (ILO) established World Day for Safety... Read More

Frontline compliance requires expert juggling
Posted on 04-18-2019 by Lisa Thompson

There’s no room for clowning about when it comes to risk management and maintaining the integrity of international business. According to records of ancient Chinese history, the armies of the Chu and Song states were facing each other in readiness for battle in 630 BC when a Chu warrior, Xiong... Read More

1.1 Billion Reasons Companies Need a Robust FCPA Compliance Process
Posted on 04-17-2019 by Lisa Thompson

There were only three FCPA enforcement actions in the first quarter of 2019, but the small number obscures a bigger threat to corporate bottom lines—fines totalling $1.1 billion. This figure eclipses the total settlements in Q1 2018—also for three corporate enforcement actions—of a... Read More

What global anti-corruption compliance trends are on the OECD's radar?
Posted on 04-09-2019 by Lisa Thompson

This year is the 20th anniversary of the implementation of the OECD’s Anti-Bribery Convention. So, we went to Paris to meet Patrick Moulette, Head of the OECD Anti-Corruption Division. He explained that the global spread of negotiated settlements, particularly Deferred Prosecution Agreements, prompted... Read More

Hearty risk management yields healthy dividends
Posted on 04-05-2019 by Lisa Thompson

Most risk management professionals know the adage, “An ounce of prevention is worth a pound of cure.” But in the digital age, you need more than an ounce of prevention when it comes to mitigating regulatory and reputational risk . It’s a lesson learned the hard way by one of the largest... Read More

Bribery Scheme Costs Telecom Company $850 Million
Posted on 04-04-2019 by Lisa Thompson

The telecommunications sector has taken some hits in recent years when it comes to anti-bribery and corruption compliance . Earlier this month, the U.S. Department of Justice (DOJ) and Securities and Exchange Commission (SEC) announced a settlement related to FCPA violations by Russia’s largest... Read More

Why Universities & Foundations Need Stronger Risk Management Processes
Posted on 04-02-2019 by Lisa Thompson

Is it time for universities—and the foundations that fundraise on their behalf—to adopt the rigorous due diligence and risk monitoring processes that global companies use? Based on the latest bribes-for-admission scandal to hit the headlines, the answer is a resounding, “YES!”... Read More

Do you need to conduct a data privacy risk assessment?
Posted on 03-13-2019 by Lisa Thompson

March 15 is World Consumer Rights Day , and this year’s theme is ‘Trust in Smart Devices.’ Innumerable devices populate the digital landscape—from wristbands that track every step taken to smartphones that instantly connect users with family, friends and brands. And with every... Read More

Before you say, ‘Be Mine’, be mindful of forced labor risk
Posted on 02-13-2019 by Lisa Thompson

The Valentine’s Day pressure is on. What gift will you choose to express your love to your sweetheart? Chocolate, roses and jewelry usually top the list of options—and the National Retail Federation projects that spending for Valentine's Day will top $20 billion this year. Jewelry captures... Read More

3 ways risk management technology improves productivity
Posted on 02-08-2019 by Lisa Thompson

One of the biggest potential time-savers for risk management professionals is technology. From initial risk assessment before on-boarding a new client to ongoing risk monitoring to surface threats more quickly, the power of artificial intelligence and advanced analytics show great promise. Tools... Read More

Weighing risk and opportunity in Latin America
Posted on 01-16-2019 by Lisa Thompson

Despite recent Foreign Corrupt Practices Act (FCPA) enforcement actions, there are signs of more positive engagement with governance and compliance in Latin America. Emerging markets offer attractive opportunities for investors, but businesses aiming to capitalize will need to prioritize robust due diligence... Read More

How risk technology transforms trust
Posted on 01-14-2019 by Lisa Thompson

From AI to blockchain, companies are rapidly adopting new technologies which use data to drive business insights and manage risks more effectively . Our third volume of The Trust Issue explores how technology can also improve a company’s transparency and increase the trust it receives from customers... Read More

Is Your Company Doing Enough to End Human Trafficking?
Posted on 01-09-2019 by Lisa Thompson

January 11 is National Human Trafficking Awareness Day. Established in 2007 by a Senate resolution, the day shines a spotlight on the issue of trafficking men, women and children for financial gain. Many associate trafficking with sexual exploitation, however among an estimated 16 million human trafficking... Read More

Regulatory Compliance No Trivial Pursuit
Posted on 01-04-2019 by Lisa Thompson

If serious trivia seems like a contradiction, maybe you need to be more quizzical when it comes to anti-corruption compliance. January 4 is the one day of the year when there’s an excuse to be trivial—even in an area as serious as compliance in anti-bribery and corruption , anti-money laundering... Read More

How forced labor impacts the global labor market
Posted on 12-18-2018 by Lisa Thompson

Migration is a recurrent theme in human history. Whether seeking to escape violence, natural disasters or poverty, migrants express their determination for better lives through migration. On International Migrants Day, we look at a particular risk that migrants face—forced labor. The issue is more... Read More

Enter the ninja: A disciplined approach to defeat regulatory risk
Posted on 12-05-2018 by Lisa Thompson

Forget about the turtles. Today is International Ninja Day, but what we’re on about has more to do with regulatory risk than teenagers or (as far as we know) mutants. Why does International Ninja Day make us think ‘compliance program’? International Ninja Day was the brainchild of... Read More

Grocery chain bags food supply chain risk with eco-friendly option
Posted on 11-21-2018 by Lisa Thompson

Several months ago, we highlighted news that Kroger was phasing out plastic grocery bags as part of its Corporate Social Responsibility (CSR) commitment . The national grocery chain is not alone. When it comes to addressing food supply chain risk, corporate social responsibility programs are helping... Read More

Expert Q&A: How Does CSR Contribute to Corporate Value?
Posted on 11-19-2018 by Lisa Thompson

Rajita Kulkarni is the President of the World Forum for Ethics in Business (WFEB) , which promotes ethical approaches to business and corporate governance. It has organized global forums to discuss ethics in sport and ethical approaches of young people. In an exclusive interview with LexisNexis, Rajita... Read More