Category Archives: Ethics And Compliance

Culture shift: On ethics and compliance, empower your organisation to mitigate risk

Companies confront ethics and compliance issues every day. Once upon a time, the idea of business ethics was more of an abstract or philosophical notion that seemed more suited for discussion in a university lecture or at a business conference. Today, however, organisations of all sizes and industries must have concrete ways of addressing ethics and compliance issues as a principal component of their business processes. There are four key elements to an ethics and compliance strategy. These include tone…

2019 risks for compliance officers

KYB While much of 4MLD was about to know your customer (KYC), a big part of 5MLD is about to know your business (KYB) In the run-up to the 5MLD, we will see increased attention on high-risk countries. Clients or transactions engaged in high-risk countries will be subject to enhanced due diligence when performing onboarding checks. Compliance teams will need to ensure KYC is not a simple “tick box” exercise during the onboarding phase, and ongoing monitoring processes will need…

Call to Action

The UK Bribery Act, which was passed in 2010, introduces an offence of corporate failure to prevent bribery. The defence for a company against this liability is to prove that it had adequate procedures in place to prevent bribery. This Guidance from Transparency International UK (TI-UK) is designed to assist companies to comply with the Bribery Act by providing clear, practical advice on good practice anti-bribery systems that in TI-UK’s opinion constitute ‘adequate procedures’ for compliance with the Bribery Act….

ISO 37001 Anti-Bribery Management System Certification

The Most Powerful Tool an Organization Can Use to Demonstrate “Adequate Procedures” as an Effective Bribery Defense and Deterrent Strategy.  As the international outcry on bribery and corruption practices continues to tighten its grip around rogue players in the private and public business sectors, global organizations continue to ramp up their efforts to develop effective frameworks to prevent, detect and report bribery and corruption. And by fortifying their anti-bribery management systems, such organizations are further helping their own cause as…