Health care providers, no matter how strong they believe their ethics and compliance programs to be, all ought to focus on taking their programs to the next level. Michael Volkov suggests one key way to do this is to strengthen the Board's commitment -- not merely in theory, but in practice. Opportunities for fraud abound in the health care industry,...
You're ready to take your compliance training to international audiences, but where do you begin? It'll take more than simply translating the English-language program into other languages, though admittedly, that's not a bad place to start. You'll also need to tailor the program to the region, pose unique scenarios and determine the best delivery method for that area, among other...
No matter how much anti-bribery/anti-corruption training your company provides, no matter how diligent your efforts to prevent compliance violations, it's possible that you'll have a "5 percenter" in your ranks -- someone who will lie, cheat and steal anyway. In order to steer clear of serious compliance infractions, you may need to reassess your screening and hiring processes.
The threat of being caught red-handed is persuasion enough for some to steer clear of schemes involving bribery and corruption. Others remain convinced either that they won't be found out or that bribery is a victimless crime. It can be easy to rationalize this conduct in the moment, but it's much harder to live with the consequences if your actions...
The Organization for Economic Cooperation and Development (OECD) recently released its first Foreign Bribery Report, and the findings therein can be extremely useful in informing CCOs' strategy in managing corporate risk. The report provides an in-depth analysis of more than 400 cases involving bribery of foreign officials over the past 15 years, and the trends may surprise you.
There are a number of factors contributing to the success -- or failure -- of an anti-money laundering compliance program. Arguably one of the best predictors of an AML compliance program's effectiveness, however, is its support and oversight by senior management and the Board of Directors. Read on for details on some of the other key indicators.
Tax inversion -- relocating headquarters to a nation with a more favorable tax structure -- most often seems a financially prudent move. However, this business decision can generate backlash from politicians and the media who deem the relocation "unpatriotic." Fallout reaches shareholders and the general public quickly, so it's crucial to handle M&A deals involving tax inversion carefully.
As with a viral or bacterial outbreak, the best response to bribery-related offenses might be isolation -- but that can prove quite challenging. Richard Bistrong and John Bray warn against a limited reaction, however. If companies are serious about combating bribery and corruption, they've got to nip them in the bud with sweeping action. And we've got a long way...
A comprehensive solution that allows your company to integrate global trade compliance with foreign trade operations can be quite the valuable tool. The benefits of such a tool are many, but increased compliance is among the greater perks. Additional advantages can be felt throughout the supply chain. Something to seriously consider for corporations with a global reach.
The use of social media can be a huge advantage to your company, when done correctly. Without proper limits in place, or forethought, businesses can find themselves in a heap of trouble for actions they take in this realm. Laura Kerekes, Chief Knowledge Officer at ThinkHR, explores how to handle social media intentionally, plus what not to do.
Bio-Rad has recently settled DOJ and SEC investigations into alleged FCPA violations, to the tune of $55 million. The U.S. company found itself in hot water after having allegedly made improper payments to Russian government officials. Russia is a notoriously difficult market to navigate when compliance is at stake, but the pharmaceutical industry may have a tougher go of it...
If not done correctly, using the cloud to store sensitive data can create a headache for compliance professionals at best, and major lapses in security at worst. Make sure you know where information is being stored, how and by whom it's accessed and just how tight security measures are on the service provider's end. Maintaining security requires a joint effort...
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