Break the corruption chain – International Anti-Corruption Day Anti-Corruption Programs and Whistleblower Protection What is corruption? If you look at Transparency International you’ll see corruption being “the abuse of entrusted power for private gain”. Corruption can be classified as grand, petty and political, depending on the amounts of money lost and the sector where it occurs. Grand … Continued
Apparently in Thailand It Is Better be careful how you’re conducting business in Thailand, or else it could mean the end for you. There’s a new law in town, one that extends to foreign countries who have demanded or accepted bribes in Thailand. The previous legislation allowed the death penalty for Thai officials convicted of bribery, … Continued
Let’s Talk About Anti-Corruption Compliance In today’s world, due to tightened anti-corruption legislations and regulations, anti-corruption compliance’ has become a regular part of our lexicon. Combating corruption and bribery is no longer ‘new’ to businesses, as stricter enforcements and prosecutions force companies to rethink their compliance policies and procedures. According to Transparency International UK, there … Continued
Protect Your Organization With steady growth in both the creation and enforcement of anti-corruption law, it is more important than ever to consider the creation of or review of your company’s policies and procedures dealing with corruption. In the US, the FCPA makes it an offence to bribe foreign officials with a corrupt motive in … Continued
Active Anti-Corruption Enforcement Should Include a Whistleblower Program Recently, AlixPartners, a leading global business advisory firm, conducted its annual anti-corruption survey which looked at the impact corruption has on corporate and economic growth. This is the third annual Global Anti-corruption Survey and, no surprise, many places are still perceived as very vulnerable to corruption, even … Continued
There Are Many Losers in The “Game of Corruption” The evil arm of corruption doesn’t end with the guilty parties involved inside an organization. It can have a negative impact on investors too. A company can be paralyzed by anti-corruption investigations resulting in losses to their investors – share prices fall, fines are assessed, legal costs … Continued
SEC Looks at ‘World Tour’ in Action Against FLIR Systems Last November 2014, the SEC brought an administrative FCPA enforcement action against two individuals – Stephen Timms and Yasser Ramahi. They worked in sales at FLIR Systems, an Oregon based company that produces thermal imaging, night vision, and infrared cameras and sensor systems. The conduct … Continued
Although who wouldn’t perk up at the prospect of being handed an envelope filled with money? But let’s get serious here… Corruption is a problem around the world, but just how bad is it? Corruption Perceptions Index 2014: In Detail The Corruption Perceptions Index has been widely credited with placing the issue of corruption at … Continued
FCPA Enforcement for the First Quarter of the Calendar Year Due diligence plays a key role in anti-corruption compliance Back in December, FCPAméricas predicted that FCPA enforcement in 2015 will be “dynamic.” The $772 million settlement with Alstom, and the aggressive statements by FCPA enforcement officials seemed to foreshadow events in the next calendar year. … Continued
Canada Moves From “Limited Enforcement” To “Moderate Enforcement” A step in the right direction indeed! Transparency International’s Corruption Progress Report for 2014 has Canada moving ahead slightly. About 15 years ago, a promise was made by many of the world’s leading economies to prevent corruption and bribery. Many seem to be failing, but Canada seems to be … Continued