Inside & Out: Managing Bribery and Corruption Risks
This one-day interactive course focuses upon bribery and corruption (B&C) risks that transpire both within an organisation and those that origin from customers and third parties. It considers how these risks arise and the types of controls used to mitigate them.
Participants will learn about the tactics used by illicit actors to use the financial system to defraud businesses and launder illicit proceeds and how these can be detected as part of an effective anti-bribery and corruption (ABC) compliance programme. This course is designed to provide a “deep dive” into real B&C cases and will include problem-solving and analysis by the participants involving actual B&C scenarios.
Price £699.00 + VAT
Scope of Anti- B&C regulations in key jurisdictions
- Key requirements and consequences for non-compliance
- Relevance for organisations with global operations
Understanding internal bribery and corruption (B&C) risks
- How B&C risks arise within an organisation
- Tactics used to conceal illicit activity
Challenges to identifying and preventing internal B&C risks
- Controls used to mitigate internal B&C risks
- How to spot “Red flags” and other warning signs
Understanding external B&C risks
- How external B&C risks have evolved
- Forms in which external B&C risks can arise
- How internal and external B&C risks can be linked
Politically exposed persons (PEPs)
- Understanding PEPs, family members and close associates
- Scope of ABC regulatory requirements – key requirements and consequences for non-compliance
- Challenges to undertaking “Know your customer” (KYC) and “Enhanced Due Diligence”( EDD) on PEPs – including establishing source of wealth and funds
- Tactics used by PEPs and close associates to conceal illicit activity
Detecting and preventing external B&C risks
- Controls used to mitigate external B&C risks
- Red flags and warning signs – onboarding and throughout the relationship lifecycle
- Understanding about current regulatory requirements related to B&C risks
- Identify and detect possible B&C risks associated with customers and third parties
- Understand the warning signs of illicit PEP relationships and their use of “close associates”
- Develop tactics to better detect and mitigate potential B&C risks
Who is the course suitable for?
This course is suitable for: Front line / customer facing staff, Compliance Officers , members of the compliance review and monitoring teams, internal auditors, internal lawyers, external auditors, lawyers and financial consultants.