The European Commission estimates that roughly €120 billion is lost annually to public procurement corruption. While the competition for government contracts continues to intensify, there are more opportunities for companies and potential clients to engage in unethical business practices, which can result in serious penalties and reputational damage. Here are four ways compliance officers can get a grip on public procurement corruption. Details inside.
Aarti Maharaj
Posted inFrom the Archive
Compliance, Regulator Pressures Pile Up at HSBC
Recent scandals at banking giant HSBC have caused regulators to shift their attention to senior executives. According to news reports, Group Chairman Douglas Flint and Chief Executive Stuart Gulliver have come under scrutiny after journalists obtained “secret documents” stating that HSBC’s Swiss private banking arm failed to conduct sufficient due diligence on some of its clients who engaged in tax evasion. Details inside.