Best Practices in Preventing Fraud and Corruption in a Global Business
In today’s global business, the regulatory landscape has significantly changed, and the true impact for businesses is a shift in emphasis from detection of corruption to enforcement. This raises the pressure on companies to demonstrate compliance. In response to the growing worldwide concern regarding anti-corruption jurisprudence, Lex Mundi has published the Best Practices in Preventing Fraud and Corruption in a Global Business.
Developed by Lex Mundi member firms around the globe, in collaboration with members of the Lex Mundi Client Advisory Council as well as other leading in-house counsel, the Best Practices in Preventing Fraud and Corruption in a Global Business provides practical suggestions and steps to enable corporations and their law firm advisors to work together to develop effective compliance programs to avoid, detect and remedy wrongdoing, especially fraud and corruption.
Topics covered in this best practice include:
- Definitions of Corruption and Fraud
- Foreign Corrupt Practices Act (FCPA) and Other Standards
- Corporate Policies and Procedures
- Monitoring, Controls, Reporting and Audits
- Investigations, Disciplinary Actions and Sanctions
- Compliance Structure: Coordination With Other Functions within the Company
- Communication: Promoting Compliance and Maintaining Vigilance
- Education and Training in a Global Corporate Setting
- Responding to Third-Party Fraud and Corruption Risk
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