Protections Against Bribery and Corruption Improve, But Risks Still Remain

The 2015 Anti-Bribery and Corruption Benchmarking Report published by Kroll, a Corporate Risk Holdings company, underscores that while improvements have been seen year-over-year, there remains a significant risk of bribery and corruption.  Compliance and due diligence are not keeping pace with transparency, scrutiny and enforcement. Looking ahead, half of the respondents surveyed for the report believe the risk of bribery and corruption will only increase in the coming years.

The survey identifies lack of internal communication as a source of risk.  Slightly more than half of respondents (52%) do not feel confident that their company’s controls will identify violations, with 71% of those respondents citing lack of internal communication as the reason. Almost half of all respondents (48%) say they never train third parties on anti-bribery and corruption concerns. This figure is down ten percentage points from 58.3 percent in 2014, but remains an alarming finding given the exposure that is created when organizations work with third parties that are not trained on internal due diligence and compliance matters.

To learn more about the state of anti-bribery and corruption, as well as best practices to keep your business safe, please download the 2015 Anti-Bribery and Corruption Benchmarking Report.

 

kroll_color_posKroll is the leading global provider of risk solutions. For more than 40 years, Kroll has helped clients make confident risk management decisions about people, assets, operations and security through a wide range of investigations, cyber security, due diligence and compliance, physical and operational security, and data and information management services. Headquartered in New York with more than 50 offices across nearly 30 countries, Kroll has a multidisciplinary team of over 2,000 employees and serves a global clientele of law firms, financial institutions, corporations, non-profit institutions, government agencies and individuals.