Not many people realize that the US has elected one president who served as a prisoner of war. That man was Andrew Jackson, who was captured by the British during the Revolutionary War. Now, can you name the American President who killed another man in a duel? If you guessed Andrew Jackson you are right and if you knew that today is the anniversary you receive extra credit and can proceed directly to Final Jeopardy.
I thought about the somewhat surprising history on Jackson when I read the recently released the “2013 Anti-Bribery and Corruption Benchmarking Report-A joint effort between Kroll and Compliance Week” (the “Survey”). Much like Jackson himself, the Survey had some interesting and somewhat disturbing findings as well regarding companies and their third parties. The findings were troubling because I think that most compliance practitioners recognize that their highest compliance risks under the Foreign Corrupt Practices Act (FPCA) and UK Bribery Act revolve around third parties. Some of the highlights of the survey are as follows.
While 43% of respondents said their bribery and corruption risks have increased in the last two years, another 39% said those compliance risks have remained mostly the same and, finally, 7.7% reported that they believe their compliance risks have actually fallen. Regarding future corruption risks, the respondents were split with half saying they expect compliance risks to rise in the next 12 months, and half do not. The single most common reason given for increasing compliance risks was expansion into new markets, followed by more vigorous enforcement of current anti-bribery laws. The Survey reported the “good news is that 57% of respondents say they conduct an enterprise-wide assessment of bribery and corruption risk annually. The bad news: the other 43% conduct such an assessment less than once a year, and 16.9% say they’ve never conducted a corruption risk assessment at all ...Zum vollständigen Artikel