All business organizations may be held liable for criminal misconduct of their agents, e.g. staff, subcontractors or joint-venture partners. In order to avoid this liability the businesses need to prove diligence in selection, supervision over agents and controls held withing the organization, i.e. the controls landscape and their robustness. There is no one fits all… Continue reading VII Pillar DOJ & SEC Program for safe navigation towards diligent prevention of fraud, corruption and other damages to business organizations deriving from misconduct
Category: Sanctions
The „Six Principles Guidance” by the UK Ministry of Justice
Contains public sector information licensed under the Open UK Government Licence v3.0. Version OGW 1, Published January 2020 © Crown Copyright, 2020. In 2011, the UK Ministry of Justice published its first statutory guidance under the UK Bribery Act 2010 to help organisations understand the sorts of procedure they can put in place to prevent… Continue reading The „Six Principles Guidance” by the UK Ministry of Justice
AML/CFT Transaction Monitoring – introduction to the basic concept
AML/CFT transaction monitoring is equally if not more challenging than Risk-based Approach towards KYC procedures. Of course all depends on the business context, volume of clients, volume of transactions, technology available to support the business processes and controls embedded in them, and so on, and so far. In this blog entry I am going to… Continue reading AML/CFT Transaction Monitoring – introduction to the basic concept