
2019 Regional Whistleblowing Hotline Benchmark Report
Data and analysis to help you benchmark your ethics and compliance programme against the world’s largest whistleblowing hotline and incident management database.
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The U.S. Foreign Corrupt Practices Act (FCPA) aims to combat bribery and corruption. It establishes liability for corporations regarding bribery payments and third-party oversight. The U.S. Securities and Exchange Commission (SEC) and the U.S. Department of Justice (DOJ) both aggressively enforce the FCPA to encourage fair business practices on a global scale. The DOJ expects a risk-based compliance programme that applies greater resources and due diligence for the areas at highest risk in your organisation. In addition, senior management is expected to go beyond internal controls by creating a tone from the top that embeds a culture of FCPA compliance throughout the organisation.
Fines for FCPA violations frequently are in the hundreds of millions of dollars category with the heftiest fine nearing $1 billion. The company is not the only entity at stake when violating FCPA compliance. Individual employees across all levels of the organisation can be hit with civil enforcement actions that can result in significant civil penalties as well as disgorgement of profits gained from corrupt practices. Since 1977, FCPA has been one of the most prominent anti-corruption acts facing organisations and continues to remain a significant concern to ethics and compliance programmes globally.
See How Anti-Bribery Training Can Help
Step 1: Make sure your policies and procedures create effective internal controls that guide employee behaviour as well as create sufficient documentation of transactions
Step 2: Offer multiple whistleblower reporting methods, including a compliance hotline to encourage employees to identify and report potential FCPA violations. Resolving violations internally can protect companies from significant financial and reputational damage.
Step 3: Train the right people on the anti-bribery and corruption practices to mitigate risks of non-compliance with applicable laws and regulations.
Step 4: Be the first to know when third-party or vendor behaviour may put you at risk for FCPA violations. Automated, continuous third-party due diligence is critical.
Data and analysis to help you benchmark your ethics and compliance programme against the world’s largest whistleblowing hotline and incident management database.
Compare your policy and procedure management program to industry standards and identify where your program needs improvements. Read the top challenges policy management programs face in 2019 and expert recommendations on meeting those challenges.
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