Tagged: third party payments

Beam Suntory Bribery Scheme: Another Controls Failure (Part II of II)

The Beam Suntory case is yet another example of a failure of internal and external auditors, and legal and compliance professionals.  Reviewing cases involves a focus on how and why a compliance failure occurred.  In many cases, legal, compliance and internal auditors are being shunned, ignored, or subjected to pressure to keep their mouths shut or agree to go forward with otherwise problematic transactions or...

Anti-Money Laundering Risks for Global Companies (Part I of III)

Non-financial institution companies operating in the global marketplace face ever-increasing risks of money laundering. Sophisticated criminal organizations have developed their own mechanisms and strategies to skirt money laundering rules and regulations. The Justice Department has targeted transnational organized crime for investigation and prosecution. As a consequence, non-financial institutions have to examine their policies and procedures to protect against handling proceeds of criminal activity or otherwise...