With the growing number of data sources and changing regulation, compliance teams are under incredible pressure and scrutiny to implement the most thorough due diligence process available.
Entries in Due Diligence (103)
The old Chinese saying “money and power always come together” acknowledges the prevalence of using political power to gain business advantage in China. In ancient China, governmental officials opened their own businesses, which earned them the title “Red Hat Businessmen” alluding to the official hat under the Qing Dynasty of China.
For more than a year, France has been working on improving its legislation to enact a new anti-corruption law in order to reach the same standards as the FCPA, the UK Bribery Act or the Brazilian Clean Company Act.
I cringe when compliance teams rely solely on Google to investigate and make decisions.
The Olympics are on and everywhere I go people are excited and inspired. I personally feel that just by watching, I'm part of something great.
Local firms in emerging markets are often highly attractive to multinationals looking for new suppliers and partners. Those local firms, many of them mid-sized, see joining a global value chain as a key step for survival.
ISO 37001-- a new standard for anti-bribery management systems -- slated to be published in late 2016, is expected to be more detailed and internationally recognized than similar guidance published to date.
One of the threshold questions for a company considering the engagement of a government official is whether the engagement is needed for legitimate purposes. If the company cannot articulate an adequate and appropriate business justification, there is a risk that the engagement may be sought or undertaken for a corrupt purpose.
The last five years have seen a dramatic shift in the transparency environment, in a trend that began with Wikileaks launching the Arab Spring, and which is now reaching fruition in the vast data leaks from Luxembourg, Unaoil and Panama. Companies can no longer reliably distribute information as they choose, or maintain control over its interpretation.