Boardroom Risk & Reputation

Dealing with corruption risk demands a nuanced and strategic approach that aligns with the business's objectives while remaining cost-effective.

The fallout from bribery scandals can inflict severe and sometimes irreparable harm on a company's reputation and finances. Multinational corporations face the looming threat of hefty fines imposed by enforcement agencies across various jurisdictions. Moreover, individuals, including board members implicated in corruption scandals and found negligent in preventing or detecting corrupt activities, risk personal prosecution, termination of their roles, and disqualification from future directorial positions.

Both national and international anti-bribery laws are expanding and becoming more stringent, necessitating proactive measures from boards to mitigate corruption risk. It is imperative for boards to conduct a thorough review of their anti-corruption protocols and establish robust strategies at the board level to tackle corruption risk effectively.