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Is anti-bribery and corruption (ABAC) the weakest link in your third-party risk management (TPRM) program?
To underscore their commitment to ethical business practices, many organizations have implemented internal policies, training, and controls to combat bribery and corruption, but they may be overlooking a significant external risk. Since 2008, more than 90% of FCPA matters have involved a third party (such as a broker or affiliate), yet only 13% of organizations report that they manage ABAC risks within their third-party risk management (TPRM) programs. In addition to reputational damage and other impacts, organizations faced $3.2 billion in global monetary sanctions in 2018.
But there are ways to identify, monitor, and manage third-party corruption risk. This white paper examines the threats third-party ABAC risk poses to your organization and explores actionable strategies for incorporating ABAC risk management into your current third-party risk management practice.
Download this white paper to learn: