Identifying and Addressing Bribery and Corruption Red Flags
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Speaker : STANLEY EPSTEIN
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When : Thursday, August 22, 2024
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Time : 11 : 30 AM EST
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Stanley holds a Master’s degree in Economics and a BCom. degree in Accounting from the University of South Africa, Pretoria. He has extensive banking and IT experience, 33 of which were with the Standard Bank of South Africa. He also filled several industry-level roles in South Africa. This included that of Chairman of the South African interbank PASA Risk Committee, member of the South African Clearing Bankers Association’s ERAG Group, and of having represented South Africa at UNCITRAL (United Nations Commission for International Trade Law) in New York, in the formulation of the foundational legal concepts for electronic banking.
He has had extensive exposure to banking practice and banking operations in a number of countries including the USA, United Kingdom, South Africa, Israel, Europe, and Australia. He has also acted as an advisor to a number of central banks on payment systems, oversight, policy, and payments risk issues.
More recently, he spent time in the high-tech sector as a payment systems designer and consultant to a global payments software developer.
Corruption is a form of dishonesty or a criminal offense, undertaken by a person, or an organization entrusted with a position of authority, in order to acquire illegal benefits or abuse power for one's private gain. Corruption may involve many activities, which include bribery and embezzlement, and it may also involve practices which are still legal in many countries.
Political corruption occurs when an officeholder or other governmental employee acts in an official capacity for personal gain.
Corruption and crime are widespread sociological occurrences that appear regularly in virtually all countries on a global scale in varying degrees and proportions.
The term “red flag” means a warning, a clue that there may be a problem, a sign of danger. When it comes to bribery and corruption there are a number of signals that are given off in arrangements for various activities that act as warnings or red flags that something may be amiss.
In this course, we take a closer look at:
- Bribery and corruption
- Compliance
- What the law requires, not only in the US but also in the UK and a selection of European countries
- Voluntary guidelines and frameworks
- Red flags or corruption indicators
- Suggested responses to a wide range of red flag indicators.
These suggested responses can be used as a starting point to help identify the most common third-party red flags or risk indicators.
Course Key Concepts include Bribery, Corruption, Compliance, Financial Services, Regulations, Red Flags, FCPA.
Areas Covered
- Corruption
- Types of bribery
- Solving the corruption problem
- Compliance
- What the law requires
- Voluntary guidelines and frameworks
- Red flags
- Corruption red flags
- Suggested responses
Who Should Attend
Compliance Officers/Managers, Risk Managers, Legal Counsel/Legal Officers, Internal Auditors, Ethics and Compliance Officers/Managers, Financial Officers/Managers, Business Owners/Executives, and Human Resources (HR) Managers.
Why Should You Attend
Eight reasons why you should attend this webinar;
- Risk Mitigation: Understanding bribery and corruption red flags enables individuals and organizations to identify potential risks early. By attending the webinar, participants can learn about common indicators of unethical behavior, allowing them to implement proactive measures to mitigate these risks.
- Compliance Requirements: Many jurisdictions have stringent anti-bribery and corruption laws, such as the Foreign Corrupt Practices Act (FCPA) in the United States and the UK Bribery Act. By attending the webinar, individuals can ensure they have the knowledge necessary to comply with relevant regulations and avoid legal repercussions.
- Protecting Reputation: Allegations of bribery and corruption can severely damage an organization's reputation and brand image. Learning how to identify and address red flags can help safeguard the integrity and credibility of the organization, fostering trust among stakeholders.
- Ethical Standards: Promoting ethical behavior is essential for maintaining a positive organizational culture and fostering trust among employees, customers, and partners. By attending the webinar, participants can gain insights into ethical standards and best practices for preventing bribery and corruption within their organizations.
- Financial Integrity: Bribery and corruption can have significant financial implications, including fines, legal fees, and reputational damage. Learning to recognize red flags and implement effective anti-bribery measures can protect the organization's financial integrity and long-term sustainability.
- Training and Awareness: Educating employees about bribery and corruption red flags is crucial for fostering a culture of compliance within an organization. Attending the webinar can serve as valuable training for employees at all levels, raising awareness of potential risks and encouraging vigilant behavior.
- Due Diligence: When engaging with third parties, such as vendors, suppliers, or business partners, conducting due diligence is essential to mitigate bribery and corruption risks. The webinar can provide guidance on conducting thorough due diligence processes and assessing the integrity of third parties.
- Professional Development: For individuals working in roles such as compliance, risk management, legal, audit, or corporate governance, attending the webinar can contribute to their professional development. It demonstrates a commitment to staying informed about emerging risks and industry best practices.
- Overall, attending a webinar on identifying and addressing bribery and corruption red flags can help individuals and organizations uphold ethical standards, comply with regulations, protect their reputation, and safeguard against financial and legal risks associated with unethical behavior.
Topic Background
Bribery and corruption red flags are critical for organizations to identify, as they provide valuable insights into potential instances of unethical behavior and illegal activities. By recognizing and addressing these indicators, organizations can mitigate risks, ensure compliance, protect their reputation, and uphold ethical standards and integrity.
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$160.00
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