Anti Bribery and Corruption
How do financial institutions fight against bribery and corruption ?
It is the first and only international anti-corruption instrument targeting the "offering" of bribes to foreign public officials.
The 36 OECD member countries and eight non-OECD countries - Argentina, Brazil, Bulgaria, Colombia, Costa Rica, Peru, South Africa and Russia - have adopted this Convention.
When is corruption taking place?
When a person (e.g. a public official) taints activities by accepting bribes to defend the interests of individuals by using their authority and status. The payment or promise of payment to a third party by the company is corruption.Corruption can come in many forms: bribery, fraud (e.g. forgery of data), extortion, embezzlement, favouritism.
Every company's compliance program should include details on how to deal with corruption incidents. The protection of a company and its reputation is paramount.
It is essential that your financial company understands the concept of Politically Ex...
Fraud is one of the most damaging risks your business can faceWe are in a persistent ...
Anti-Money Laundering (hereafter "AML") compliance regulation is a challenge ...
Fighting against dumping and bribery is required for any company. Suspicions of corr...
The Customer Due Diligence (hereafter “CDD”) investigation is required by EU juri...
Due to globalisation, companies are increasingly exposed to the risk of sanctions, op...
What are the dangers of cryptocurrencies?Cryptocurrencies are virtual or digital curr...
Financial institutions must be able to identify and verify the identity of their cus...
Insider dealing (the term "insider trading" is also frequently used) arises w...
Where does the Common Reporting Standard (CRS) idea comes from ?The concept of agreei...
The financing of terrorism is defined as the distribution or collection of funds, in ...
The Directive 2014/65/EU (hereafter the "Directive") on markets in financia...
Are you familiar with the term "screening" or are you wondering what does it ...
Market Abuse is a concept that encompasses unlawful behaviour in the financial market...
Faced with the outbreak of highly targeted attacks and a highly regulated environment...
The idea behind the Payment Service Directives (PSD) aims at simplifying the lives of...
We'll present you the technology to stop money laundering and terrorist financing
Europol defines Financial Crime as "illegal acts committed by an individual or a group of individuals to obtain a financial or professional advant...
Return to financial crime
From an extra pair of hands to the person that advises on strategical decisions and the future of your company. Working as a consultant at another company starts with an understanding of the business model and the company culture. This requires the consultant to not be...
Read more Author What else ?