The report (available here in pdf) amplifies the growing bribery and corruption risks that third parties present and the challenges companies face in monitoring these intermediaries.… Continue Reading
Posts Tagged: third-party controls
Consistent with the DOJ’s Opinion Release 08-02, companies must risk-rank their third parties into high, medium and low risk categories and conduct the appropriate due diligence.
As 85-90% of all cases involve illegal activity conducted by a third party on behalf of an organization, this issue appears to be the biggest risk to multinational organizations.… Continue Reading
I was surprised to hear some financial services industry experts say that many large firms don’t always know who their third parties are and what exactly they are doing for the firm.… Continue Reading