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Governance Structure: Bribery And Corruption Framework
The governance structure. The responsibility of oversight of bribery and corruption risks posed to the organization lies on the board and senior management. The board shall delegate the oversight and...
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UK Bribery Act: United Kingdom Overview
The UK bribery act. The United Kingdom ratified the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions (Anti-Bribery Convention) on 14 December...
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The 3 Stages Of Money Laundering: Bribery And Corruption
The 3 stages of money laundering. Money laundering activities are practices used to disguise the source of illicit profits and integrate them into the legitimate economy. Money laundering means...
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Why Do Bribery And Corruption Exist? Aspect, Motive, Cause And Trinity
Why do bribery and corruption exist? Bribery and corruption usually occurs when some people are willing to use illegal means to maximize their personal or corporate gain. However, for these people to...
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Bribery And Corruption Legislation: Singapore Overview
Bribery and corruption legislation. As other countries are focusing on the control and management of bribery and corruption, Singapore is also one of those countries which is prominent in establishing...
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Foreign Corrupt Practices Act: An Overview Of The United States FCPA
The Foreign Corrupt Practices Act, FCPA, was enacted to make it unlawful for certain classes of persons and entities to make payments to foreign government officials to assist in obtaining or...
View ArticleSafeguarding Against Financial Crime: A Deep Dive Into AML Policy and Procedures
Understanding AML Policy Framework When it comes to combating money laundering and other financial crimes, having a robust AML (anti-money laundering) policy framework is of utmost importance. This...
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Different Types of Financial Crime
Overview of different types of financial crime. There are different types of financial crimes that occur within or outside an organization which cause reputational, financial, and operational losses...
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Bribery and Corruption: Anti-Corruption Compliance
What exactly is bribery and corruption? Corruption is defined as dishonest or fraudulent behavior by those in positions of power, typically involving bribery. Bribery is defined as offering, giving,...
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Bribery and Corruption: Internal Assessment of Corruption Risks
Internal assessment of corruption risks is a diagnostics tool that seeks to identify systemic flaws that may provide opportunities for corruption. It differs from many other tools for assessing...
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Bribery and Corruption: Definition and Process
Bribery and corruption are illegal and unethical practices that involve the exchange of money, gifts, or other favors in exchange for special treatment or favors. Bribery involves giving or receiving...
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Bribery and Corruption in Environmental Crimes: The Relation of Bribery and...
Bribery is the act of giving or receiving something of value in exchange for influence or action, usually for personal gain. It is a form of corruption that undermines fair competition and equal...
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Firm-Wide Policy: ABC Compliance Program Elements #2
Firm-wide policy. A written anti-bribery and corruption compliance policy should be in place that prohibits the promising, offering, giving, solicitation, or receiving of anything of value, directly...
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Governance: ABC Compliance Program Elements #1
Governance. The overall responsibility of oversight of bribery and corruption risks posed to the organization lies on the board and senior management. The board shall delegate the oversight and...
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Control Environment: ABC Compliance Program Elements #3
Control environment and activities are actions that help senior management mitigate bribery and corruption risks to ensure the achievement of overall objectives. Control activities may be preventive...
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Training And Awareness: ABC Compliance Program Elements #5
Training and awareness. Communication of the anti-bribery and corruption compliance program through policies, procedures, and guidance, must be ensured with the appropriate and tailored risk-based...
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Monitoring For Compliance With Controls: ABC Compliance Program Elements #6
Monitoring for compliance with Controls. The independent monitoring and review procedures and processes adopted by the ABC officer must be standardized, uniform, relevant, and consistent with the...
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Risk Assessments: ABC Compliance Program Elements #4
Risk assessments is crucial in identifying, analyzing, and assessing the financial and likely impact on the organization’s risk profile. To identify and assess the impact of bribery and corruption,...
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Predicate Crimes To Money Laundering: Bribery And Corruption
Predicate crimes to money laundering. Money laundering is a criminal activity performed by criminals, related individuals or groups. The purpose is to hide and transfer the funds generated through...
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Case Studies: Bribery, Corruption And Money Laundering
Case Studies: bribery, corruption, and money laundering. All are crimes that occur concurrently. Corruption crimes, such as bribery or the personalization of tax revenues, increase the amount of...
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