Free Your Business® from the Complexity of Anti-Bribery and Corruption Compliance

  • January 25, 2018
  • VIDEO

Learn How to Simplify the Third Party Anti-Bribery and Corruption Due Diligence Process

Anti-bribery and corruption compliance can be your competitive advantage when growing your business globally. Conducting due diligence on all third parties is a critical element. This video walks through the key steps.

Key Steps

 

  1. Start with a clear definition. Define the scope of your program, objectives and goals, policies and procedures and how you’ll gather data from third parties.
  2. Next, you can start collecting your data to assess risk in your relationships. Some key risk factors to consider include country risk, government connections and adverse media.
  3. Now assess the data. Segment third parties into high, medium and low risk and conduct additional due diligence in proportion to each level.
  4. At this point it’s time to make decisions about whether to approve or deny a relationship or move forward with some provisions. Solid risk assessment supports faster, more competent decisions.
  5. As you are responsible for actions of your third parties, training them on regulatory requirements and your policies and procedures is key to the success of your compliance program.
  6. Remember, third party due diligence isn’t a one-off activity. You need to be aware of real changes in third-party relationships that may trigger a review. Automated monitoring ensures that you’ll never be caught off-guard.

 

Efficient third party due diligence can be a strong competitive advantage. Free your business to grow safely.

Download the complete process illustration

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