Third-party risk management Archives - Corruption, Crime & Compliance

23 Sep, 2022

Michael Volkov and Matt Crome Speak on Third-Party Risk Management at the NAVEX Next Global Virtual Conference

NAVEX announced its 11th annual global virtual conference. The opening day of the conference will be webcast on September 29, 2022. This year’s opening keynote will feature former Olympian and the first female president of U.S. Soccer, Cindy Parlow Cone. I am pleased to participate in the conference with Matt Crome in a session on the Future of Holistic Third-Party Risk Management — Trends to...

General

23 Aug, 2022

Building a Compliance Dashboard (Part I of II)

This is a topic that every compliance professional has to address in one form or another. Chief compliance officers are so busy that they often cannot even take the time to tackle this difficult issue. This is a real practical issue of importance. Just to define terms and the focus of this blog posting — we have to define the issues and purposes of the...

General

5 Jun, 2022

The Glencore Settlement: Lessons Learned (Part V of V)

The Justice Department has resumed FCPA enforcement with a bang. The new enforcement approach has been unveiled and the message for CCOs and corporate business leaders is clear — anti-corruption compliance should be a critical compliance priority. Companies that fail to do so will be severely punished. The new DOJ approach stands as one of the most important events elevating the importance of corporate compliance...

General

3 Nov, 2021

Keeping Track of Third Party Risks – Bribery and Sanctions

We have heard it over and over, again and again – third-parties pose significant risks of bribery for all global businesses. Almost every FCPA enforcement action includes some form of third-party misconduct. The current picture from the Stanford FCPA Resource confirms the story. A cottage industry of automated platforms, data analytics, due diligence and monitoring strategies have grown around third-party bribery risk. Companies have designed...

Podcasts

5 Jul, 2021

Episode 200 — The Foster Wheeler FCPA Enforcement Action

The Justice Department and the Securities Exchange Commission are back in business. The first corporate FCPA enforcement action in 2021 came after a six-month hiatus in 2021. The first case against a corporate entity in 2021 is an interesting one because it reflects a coordinated settlement not only between DOJ and the SEC but the U.K.’s Serious Fraud Office and Brazil’s Ministério Público Federal (MPF),...