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Anti-bribery & corruption
An effective anti-bribery and corruption (ABC) compliance framework must be risk-based, ensuring resources are focused on the most significant corruption risks.
The UK Bribery Act 2010 is one of the world's toughest anti-bribery laws, with stricter requirements than the US Foreign Corrupt Practices Act (FCPA). Unlike the FCPA, UK law applies to both domestic and international bribery, making compliance even more critical for financial institutions.
To demonstrate compliance with the Bribery Act, financial institutions must implement effective ABC programmes. These programmes should include a code of conduct and policies regarding gifts, training, political and charitable contributions, and delegation of authority, as well as accounting policies regarding the proper recording of transactions. Failure to prevent bribery is a criminal offence in the UK even if no bribery has taken place. This underscores the need for a strong, risk-based ABC framework that can withstand regulatory scrutiny.
For financial institutions operating across multiple jurisdictions, managing bribery risks becomes even more complex. Institutions must navigate risks linked to government-related transactions, high-risk regions, and international regulatory obligations, ensuring compliance across their global operations.
People's indifference is the best breeding ground for corruption to grow.
Delia Ferreira Rubio
Transparency International
OpusDatum helps financial institutions assess, enhance, and implement effective ABC programmes to mitigate bribery risks. Our services include:
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ABC Programme Development: Designing and implementing comprehensive anti-bribery and corruption frameworks, policies, and standards.
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ABC Risk Assessments: Identifying and addressing high-risk areas and vulnerabilities, and ensuring regulatory alignment.
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Independent Reviews: Assessing procedures, systems, and controls against ABC policies and industry best practices.
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Policy & Control Enhancements: Strengthening ABC compliance frameworks, policies, procedures, and governance structures.
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Benchmarking: Comparing ABC controls against global best practices.
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Look-Back Reviews: Investigating past ABC incidents to identify root causes and implement preventive measures.
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Forensic Investigations: Detecting and investigating suspected bribery and corruption activity using analytics and fraud detection.
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Training & Awareness: Educating employees at all levels on UK and international bribery laws, ethical decision-making, and whistleblowing protections.
With proven expertise and tailored solutions, we help organisations stay ahead of evolving ABC risks. A well-designed ABC programme fosters trust, enhances credibility, and ensures sustainable business growth, even in the most challenging markets.