What’s to come this year? Demands for heightened oversight of employees, subsidiaries and third parties
2023 Update
Global Bribery and Corruption Outlook
What’s in this report from Hogan Lovells:
For their annual analysis of regional and industry-specific developments in the area of bribery and corruption prevention, Hogan Lovells’ authors keep coming back to two words: good governance.
This shouldn’t come as a surprise for compliance and risk professionals, as the G in ESG stands for governance, after all, but the topic even plays a behind-the-scenes role in areas like anti-bribery and corruption.
As for what to expect this year? Here’s what the authors have to say: “Regulators and enforcers look beyond any misconduct itself. They scrutinize your due diligence, your internal controls, your compliance programs, your compensation structures, and so on. They want to see the proactive steps you’re taking — from using data to spot wrongdoing to promoting an ethical culture.”
In short: You’d better be serious about oversight, whether of your employees or third parties.
