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

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

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

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

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

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

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

Scoping out supply chain risk with technology
Posted on 11-12-2018 by Lisa Thompson

Without question, companies’ global supply chains and third-party networks increase their risk exposure. Yet, according to a recently-released benchmark report , approximately one-third of organizations lack a cohesive risk mitigation process —relying instead on a manual process or traditional... Read More

Which countries are exporting bribery and corruption risk?
Posted on 10-12-2018 by Lisa Thompson

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... Read More

2 Reasons why companies need to conduct risk assessments of their own compliance programs
Posted on 10-08-2018 by Lisa Thompson

As the aftermath of corporate corruption and ethics scandals continue to play out in news headlines and courtrooms, spurring a continued search for expert advice and best practices on mitigating compliance risk . So, when a former compliance expert at the U.S. Department of Justice (DOJ) and a Harvard... Read More

A new No. 1: Petrobras agrees to biggest FCPA settlement
Posted on 10-05-2018 by Lisa Thompson

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... Read More

3 Reasons to Combine Due Diligence & Risk Monitoring
Posted on 10-03-2018 by Lisa Thompson

Companies are exposed to regulatory, financial, reputational and strategic risks, and the number of countries and NGOs with compliance expectations is on the rise. The best way to proactively manage these expectations? Risk-based due diligence and ongoing monitoring. 1—Regulatory risks... Read More

Why the Energy Sector Needs Better Due Diligence & Risk Monitoring
Posted on 08-23-2018 by Lisa Thompson

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. It’s a topic we’ve touched on in blog posts on Unaoil and Petrobras . But anti-bribery and corruption regulations... Read More

Danske Bank and Siemens invite ABC compliance in the boardroom
Posted on 08-16-2018 by Lisa Thompson

Danske Bank and Siemens have appointed chief compliance officers to their boards of directors this summer. We explore why compliance has become accepted as a critical function in any company. At the next board meeting of Denmark’s biggest bank, a chief compliance officer will be at... Read More

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

What Does Machine Learning Have to Do with Identifying Risk?
Posted on 05-09-2018 by Lisa Thompson

Machine learning is a branch of artificial intelligence whereby computers use algorithms to analyse data to identify patterns and build predictive models. With a minimum of human intervention, the models are automatically adapted to produce increasingly reliable and insightful results as they are exposed... 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

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