The Globalization of Anticorruption Enforcement and Risk
May 06, 2018
In part two of our two-part interview, John Arvanitis, Associate Managing Director for Compliance, Kroll, shares his views of the recent Kroll-Ethisphere Anti-Bribery & Corruption Benchmarking Report, with a focus on global enforcement, third-party risk, as well as the collection and ranking of risk data. The complete report can be found here.
In this nineteen-minute interview, John focuses on:
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- The risk of anti-bribery and corruption risk due to increased regulatory enforcement and the prospect of new global regulations.
- The continued perils associated with detecting third-party risk, particularly where third parties are providing incomplete or inaccurate on-boarding information.
- The importance of on-going and interval monitoring.
- Is the data being used by multinationals the ‘right’ data?
- What should trigger on-going and/or interval monitoring?
- How far down into the supply chain should we go in order to assess risk?
- The need to refresh data to verify that it’s accurate.
- The importance of risk-ranking, both in theory and in practice.
- Using compliance programs as a pro-active tool to mitigate and assess risk.