Corruption is a systemic problem that plagues many transitional countries across the world, rooted in weak rule of law and lack of private property rights. Not only does corruption erode trust in public institutions, such practices also hinder economic growth and weaken democratic governance. The corruption challenge can be addressed by building responsive institutions that offer… Read More
The next year is shaping up to be a big one for multilateral free trade agreements and, by extension, efforts to fight corruption in international commerce. First, there is the historic Trade Facilitation Agreement (TFA) that grew out of the World Trade Organization (WTO) accord reached in December 2013 in Bali. Under the TFA, all… Read More
By Junior Kayembe N’Kashama Building a robust ethics and compliance program is key to managing risk in today’s complex world of global business. That is why understanding best practices and the state of compliance infrastructure among companies is an important step toward better compliance across the board. Society of Corporate Compliance and Ethics (SCCE) and… Read More
In the first half of 2014, anti-corruption enforcement actions by the U.S. alone cost the business community more than $500 million. It would seem logical that as a result anti-corruption compliance would be at the forefront of every multinational corporation’s activities. But that’s not the case, at least as described in the 2014 Global Fraud… Read More
Transparency International’s Corruption Perceptions Index ranks Kenya in a distant 136th place. That low ranking confirms the sentiment often encountered in Nairobi: corruption is widespread in many aspects of life, from bribing a policeman to avoid charges for alleged traffic violations to graft at the highest levels of government, as poignantly described by a British… Read More
As the world’s multinational companies seek profits in new, high-risk markets, they inevitably start depending on local businesses – third parties – to operate. Such partnerships bring with them both the promise of mutual growth and, for the multinational, responsibility for the behavior of its new local partner. That’s because aggressively applied laws such as… Read More