According to ISO’s most recent 2021 survey, ISO 37001 is becoming one of the most widely certified ISO management system standards. In 2022, there was noticeable anti-bribery management systems standard activity in certain sectors and geographies.… Continue Reading
Posts Tagged: oil and gas
Risk-based due diligence is the foundation of how companies prevent corruption. Its logic implies that companies proactively manage their risk exposure, avoiding the most problematic third parties and deals, and mitigating risks associated with others. … Continue Reading
Companies from the oil and gas industry have disclosed 28 open and ongoing FCPA-related investigations.
As if historically low commodity prices are not enough for energy and natural resource executives to contend with, a recent KPMG International survey found that addressing anti-bribery and corruption remains highly or exceedingly challenging.… Continue Reading
The Treasury Department’s Office of Foreign Assets Control (OFAC) issued Directives 1 through 4 on September 12 pursuant to Executive Order 13662 (March 20, 2014), “Blocking Property of Additional Persons Contributing to the Situation in Ukraine.”… Continue Reading
Tullow Oil declared force majeure on its offshore exploration block in Guinea following the disclosure that its partner, U.S.-based Hyperdynamics Corporation, is under investigation by the DOJ and SEC for possible violations of the Foreign Corrupt Practices Act.… Continue Reading
First we looked at the corruption perceptions index ranking of the top 25 oil producing countries.
Then we looked at gold producers.
1) Brazil (69)
2) Vietnam (123)
3) Colombia (94)
4) Indonesia (118)
5) India (94)
6) Ethiopia (113)
7) Honduras (133)
8) Peru (83)
9) Guatemala (113)
10) Mexico (105)
* * *
Their average rank on the CPI is 105, much worse than the gold producers at 88, and the oil producers at 90.… Continue Reading