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.
The idea behind the Payment Service Directives (PSD) aims at simplifying the lives of...
Faced with the outbreak of highly targeted attacks and a highly regulated environment...
The Customer Due Diligence (hereafter “CDD”) investigation is required by EU juri...
Insider dealing (the term "insider trading" is also frequently used) arises w...
Market Abuse is a concept that encompasses unlawful behaviour in the financial market...
Where does the Common Reporting Standard (CRS) idea comes from ?The concept of agreei...
Financial institutions must be able to identify and verify the identity of their cus...
What are the dangers of cryptocurrencies?Cryptocurrencies are virtual or digital curr...
Due to globalisation, companies are increasingly exposed to the risk of sanctions, op...
The Directive 2014/65/EU (hereafter the "Directive") on markets in financia...
Fighting against dumping and bribery is required for any company. Suspicions of corr...
Anti-Money Laundering (hereafter "AML") compliance regulation is a challenge ...
Fraud is one of the most damaging risks your business can faceWe are in a persistent ...
It is essential that your financial company understands the concept of Politically Ex...
The financing of terrorism is defined as the distribution or collection of funds, in ...
Are you familiar with the term "screening" or are you wondering what does it ...
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
A top-down approach highlights the behaviour of regulatory changes in the financial institution and helps the Compliance Officer to build a strong Governance. This principle is also known as “tone at the top” in ethical and responsible business behaviour. From the h...
Read more Author What else ?