Monthly Archives: June 2019

ISS Middle East FZC achieves ISO 37001 ABMS Certification through Corporate Research and Investigations Limited

Corporate Research and Investigations Limited (CRI Group) announced that the award-winning Information Technology Services company ISS Middle East FZC (IntelliSoft) has successfully demonstrated compliance with ISO 37001 requirements and attained ABAC Certification in ISO 37001:2016 Anti-Bribery Management System for services such as SAP Professional, Technology, Infra services & solutions (Data Management, Application development, Legacy Modernisation Cloud service, Analytics & Mobility), Staffing, Recruitment and Outsourcing services in IT. The announcement is made by Kanwal Zafar, Managing Director at ABAC Center of…

ISO 37001 Certification: a Proclamation of Business Integrity

It’s a well-known World Bank statistic, but one that bears continual repeating: More than US$1.5 trillion – or 2% of world gross domestic product – is paid in bribes each and every year, contributing to the demise of governments, inadequate social services, inferior infrastructure, low-quality goods and services, and a general strain on public and private sector integrity and reputation. But the past several years have seen marked progress in the global fight against bribery and corruption, particularly with the…

ISO 37001 Standards Critical as South Asia Governments Prioritise Anti-Bribery Compliance 

By Zafar Anjum MSc, CFE, Intl. Dip. (Fin. Crime) Group Chief Executive, CRI Group   Introduction When addressing compliance issues, anti-bribery and anti-corruption measures must be placed near or at the top of the priority list for most organisations in the South Asia region. Laws and regulations are changing at a rapid pace, with many companies struggling to keep up with the latest compliance requirements. In fact, many South Asia governments are trying to improve on spotty records of prevention…

Financial Services Firms Need ISO 37001 ABMS in Today’s Regulatory Climate

When Société Générale, a global financial services institution based in France, agreed to pay a combined total penalty of more than $860 million for an alleged bribery and corruption scheme, it served as a warning shot to financial firms worldwide that a culture of enforcement has arrived. Société Générale was accused of paying bribes to officials in Libya and committing violations in manipulating the London InterBank Offered Rate (LIBOR), one of the world’s leading benchmark interest rates. Together with other…

Pharma and Healthcare/Life Sciences Companies Benefit from ISO 37001 ABMS

When global pharmaceutical giant GlaxoSmithKline found itself in the Chinese government’s crosshairs for an alleged large-scale bribery scandal, there was perhaps little doubt that the consequences would be large-scale, as well. GSK was accused of systematically paying bribes and “gratuities” to doctors and hospitals in return for favourable product use and promotion. China was in the midst of an emerging anti-graft campaign and imposed tough penalties against GSK and its executives: In the end, various company leaders were arrested and…

Oil and Energy Companies Look to ISO 37001 for Effective ABMS

In December 2017, the world’s largest builder of offshore rigs agreed to pay $422 million in penalties after entering a guilty plea for bribery charges connected with the Petroleo Brasileiro (Petrobras) scandal. Keppel Offshore & Marine Ltd. made illicit payments to both Petrobras officials and government representatives for more than a decade, between 2001 and 2014 (Reuters, 2017). The sweeping multimillion-dollar bribery scandal that rocked Petrobras led to numerous investor lawsuits and the downfall of disgraced government officials. It also…