Bribe demands place tremendous pressure on employees and company compliance controls, testing resolve and exploiting systemic weaknesses. Compliance officers should work to implement proactive policies to deter bribe demands and equip employees with strategies to sidestep improper requests.… Continue Reading
All posts by Alexandra Wrage
Fighting corruption is now a U.S. national security priority. What does that mean for the private sector?
Halfway through the first-ever United Nations General Assembly Special Session on corruption, the White House announced a new initiative: a comprehensive national security strategy to combat corruption. A memo from President Biden specifically named partnership with the private sector as a core tenet.… Continue Reading
Companies have long complained, rightly, that they bear the brunt of most anti-bribery efforts. Bribes are, at their simplest, transactions between two parties, but companies are prosecuted aggressively while the misconduct by grasping government officials typically escapes notice, or at least prosecution.… Continue Reading
TRACE held its annual U.S. Forum in Washington, DC, this week. More than 120 companies gathered to benchmark their programs and to hear from an extraordinary array of government, law firm and in-house speakers.… Continue Reading
Members of the U.S. Congress believe that corruption in international sports requires action. This week the Rodchenkov Anti-Doping Act (RADA) was introduced in both houses of Congress with bipartisan sponsors — Senators Roger Wicker (R-MS) and Sheldon Whitehouse (D-RI) and Representatives Michael Burgess (R-TX–26) and Sheila Jackson Lee (D-TX–18).… Continue Reading
The splendidly named International Corruption Hunters’ Alliance sponsored by the World Bank met for two days in Copenhagen last week. The roughly 200 participants included prosecutors and other anti-bribery professionals from over 100 countries.… Continue Reading
If your offices, like ours, are currently filled with colorful jerseys and employees furtively checking scores on their phones, you know that soccer (or football or futball) has the attention of much of the world right now.… Continue Reading
At every FCPA conference, someone comments that over 90 percent of FCPA matters involve third party intermediaries. It’s an interesting statistic and can be useful if it helps motivate the team to take due diligence seriously and encourages management to fund the program.… Continue Reading
Compliance professionals — broadly defined — are a generous and collaborative group. Most recognize that the world is large, financial crime is rampant, and we’re better at our jobs when we share information about schemes and benchmark solutions.… Continue Reading
Investigative journalists undertake complex and often dangerous work to hold organizations and individuals accountable for bribery. These journalists deserve to be encouraged and recognized for their work.
In 2015, TRACE launched its Prize for Investigative Reporting to recognize reporters in this field, and to support a free press more broadly.… Continue Reading
Last week, TRACE held its 13th Forum at the St. Regis Hotel in Washington, D.C. Over 100 member companies contributed to a lively and extended exchange of best practices across the two-day event.… Continue Reading
The Unaoil story first published by The Age and Huffington Post on March 30, and supplemented yesterday with another chapter, has it all. There are code names, huge dollar amounts and intrigue. … Continue Reading