Scott Lane is CEO and Chairman of The Red Flag Group, a global integrity and compliance risk firm that produces a unique set of advice, technology and business-intelligence applications to manage the integrity and compliance risk of its customers. Scott Lane has over 15 years of experience in legal, compliance, internal audit, export control, ethics and corporate governance, providing counsel and advice to senior management throughout the world in the development of legal and compliance practices.
The Red Flag Group is a leader in screening and due diligence across a range of industries in 194 countries. More information on the company is available at www.redflaggroup.com.
With big data in the news almost every day and the requirement for due diligence on third parties to meet compliance obligations, there has been an explosion of providers entering the market. For companies looking for due diligence providers, it is important to be aware that not all parties are created equal.
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Human rights violations in business, particularly in the form of human trafficking, modern-day slavery and forced labor, continue to be a major worldwide issue. A company that uses suppliers engaged in such actions could sustain significant fines and reputational damage. Incorporate anti-trafficking measures throughout your company’s operations to ensure workers’ dignity isn’t sacrificed for the sake of higher profits.
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Volkswagen’s scandal around its false emissions data and the barrage of headlines that go with it underscore the importance of managing compliance risks and integrity in companies of all sizes. Although the scandal prompted questions about the company culture, it also highlights the difficulty of locating risk across an organization.
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One of the more substantial outcomes of the recent G8 leaders’ summit was the signing of the Open Data Charter.
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