Behind Every Flag: Third Party Due Diligence for Shipping
Over the last decade regulatory pressures requiring companies to carry out third party due diligence have primarily focussed on compliance across three areas; anti-bribery and corruption, anti-money laundering, and sanctions regulation. The shipping sector is...
Paypal issued £5M fine due to inadequate sanctions screening process
The US Treasury Department issued Paypal with a £5M fine after they had allowed payments which violated sanctions and involved links to weapons of mass destruction. Paypal failed to prevent the transactions due to a failed screening process, causing non compliance...
Nestle Case Study: Human rights due diligence
According to research by Ethical Corporation in 2016, nearly 50% of businesses stated human rights was their number one supply chain issue in the next year. The United Nations Guiding Principles on Business and Human Rights provide the global standard since 2011...
Six principles for bribery prevention
The UK Bribery Act 2010, which came into force on 1st July 2011, replaced legislation dating back to 1889 and affects all businesses operating in the UK. Offences The offences of giving and receiving bribes and bribing foreign public officials apply to all...