Over the last five years, the dominant regulatory trend in global compliance has been the spread of legislation which mandates companies to carry out Human Rights and ESG Due Diligence (HRDD) on third parties and suppliers. This has significant implications...
Financial crimes, such as bribery and corruption, are becoming more common and more complex. One of the most common reasons for a company to become implicated in alleged financial crime is its exposure to the activities of its third parties and suppliers...
Global companies have been fined hundreds of millions of dollars for alleged compliance breaches in the last year. Whether the allegations against them related to bribery and corruption or breaches of new human rights due diligence legislation, a recurring...
Due diligence is a crucial step of any company’s business plan, especially when working with third parties like donors, board members or vendors. And within this often-overlooked sector is an even more undermined component: beneficial ownership...
Regulators increasingly require corporate and financial services firms to incorporate Environmental, Social and Governance (ESG) risks into their due diligence and reputational risk management processes. The year of 2023 alone has seen massive increases...
One of the major themes in compliance in recent years has been the rise of Human Rights Due Diligence (HRDD) legislation in Europe and the US. Now, this trend appears to be expanding into the Asia-Pacific region after a recent initiative by the Japanese...
If you’re a risk manager, the creation of an efficient and effective risk management workflow should be at the top of your priority list. Because risk managers are now juggling so many pieces, it can too often seem like you can have fast or effective...
Trust may not appear in a company’s financial accounts, but trust has been called “the most powerful currency in business.” Customers, investors, employees and suppliers all want to work with companies that they consider to be trustworthy...
Many companies have deficiencies in their sanctions risk management and customer due diligence processes, according to a survey by the UK’s financial regulator. The EU has also published new expectations about companies’ third party due diligence...
The EU’s proposed new Directive would mandate large companies in the EU or doing business there to implement strict new due diligence obligations. The regulation is now close to being finalized, which would start the clock ticking for individual...
When it comes to the data used for predictive modeling and risk management, you can’t afford to leave anything to chance. Risk managers today have an ever-increasing number of AI applications and risk management tools to improve risk visibility...
Risk management is paramount to the upkeep and success of a business. To make sure you are staying compliant, you should continuously check all operations for potential pitfalls, like illegal trades or unsavory business partners or unstable prospects...
No institution wants to be embroiled in a scandal—especially when it could have been prevented. Unfortunately, that’s exactly what happened to Tufts University when it was revealed that when one of their long-standing donors, the Sackler family...
Companies operating in today’s global business environment must navigate ever-strengthening anti-bribery and corruption regulations. Some of the most significant recent enforcement actions against companies arose from alleged due diligence failures...
Organizations like nonprofits and academic institutions that rely on donations need to be hyper aware of the importance of due diligence. Screening current and potential donors for political and financial vetting is a crucial step in any donor-funded...