We are not oblivious to the height of Corruption that is prevalent across the globe. This usually happens due to the lack of knowledge in part of the consumer and also calls out for a stringent law which can keep a tab on the workings of officials while looking into the rules and regulations. And this is where Anti-Corruption Compliance Solutions come into the picture. We at EthiXbase are leading legal service providers who offer Anti-Corruption Compliance Solutions coupled with industry-leading experts and advanced automation.
So, for all those who are still unaware of what does Anti-Corruption Compliance mean, we have dedicated this article in elucidating and explaining the different intricacies related to anti-corruption. Without wasting much time, let’s get going:
What exactly is anti-corruption compliance?
Most of the compliance programs primarily address all forms of corruption that happen in the global medium. To put in simple words, let’s take an example – Have you ever paid bride to anyone for getting your work done or tipped any staff to do something in your favor. Well, while this might not seem like a huge thing or bribe, but when it comes to Corporate Compliance News including bribing a government employee or somebody in high stature for signing your contract, it is undoubtedly counted as Corruption.
Bribery exists in different forms, apart from ones explained in the above paragraph. Here is where the need for a compliance program comes into the picture. Anti-Corruption Compliance Solutions is one such medium that is used to minimize the disruption caused to your business by keeping every process under surveillance.
The current upsurge of Corporate Compliance News and the increase in corruption activities has made it imperative for MNCs, corporates to have their compliance programs well-sorted and in place. Here is where EthiXbase comes to bail our companies and corporates by catering to robust solutions for their services.
How does the process work, and what are the stages included in the procedure?
With years of expertise in the field, we offer specialized solutions backed by a myriad of proactive and reactive Anti-Corruption Compliance Solutions. You can gain a sneak peek into the services below:
1. Due Diligence during Merger and Acquisition
One of the foremost processes includes focusing and identifying potential issues of corruption-related along with taking under consideration the risks of successor liability. We also assess the potential matters that may arise during the diligence.
2. Carrying out Internal Forensic Investigation
Our anti-corruption compliance also includes carrying out a due internal forensic investigation. To do so, we use various resources such as forensic tools, inviting subject matter specialists; make use of technological devices to ensure complete efficiency when carrying out the investigative process.
3. Complete knowledge of US regulatory trends
Having a comprehensive understanding of the field is of utmost importance. And we at EthiXbase leave no stone unturned in knowing about the latest happenings and modulations brought in the area. Our experts in team keep themselves well updated with the market changes being well abreast with the regulatory trends and expectations.
4. Affordable and cost-saving data discovery
As the matter is surrounding Corruption, it is but obvious that there might be massive need of data also involved. Moreover, this also calls out to secure the data in a well efficient manner. EthiXbase has a core team of professionals who work tirelessly in collection, preservation, processing, analysis, hosting and employing varied analytics. This makes it even more possible to derive solutions, summarize as well as analyze both structured and unstructured data.
5. Gathering a broad base of business intelligence resources
For performing background investigations with the finesse of individuals and different entities from anywhere in the world, we follow a systematic procedure. This includes conducting a detailed search of potential conflicts of interest, government affiliations, checking through the media reports, undisclosed business affiliations, and a lot more to make the entire process streamlined.
Moving forward, we will now elucidate benefits that anti-corruption program poses to the companies and businesses. Read out below to know more:
6. Reduction of Internal Risks
Carrying out anti-corruption compliance ensure risks are reduced to a far extent. This aids in minimizing the likelihood of catastrophic events from cropping up and associated fines that are levied with non-compliance.
7. Driving cost efficiencies
It also enables to avoid and prevent any kind of unnecessary costs incurred and reputational impacts which are associated with engaging in events which can turn out to be harmful by associating with wrong partners
8. Complete transparency
The compliance enables the companies to hold transparency of whatever procedures and process take place. This transparency thus promotes in building a culture of trust, including garnering preferred treatment when associating with commercial relationships.
Thus, with due diligence and systematic functioning of every stage, we at EthiXbase pledge to offer high-class Anti-Corruption Compliance Solutions to businesses to keep them away from falling prey to stop Corruption and nefarious activities.