Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Customers and corruption risks

Tom Fox | March 14, 2016

What is the cost of corruption? How much due diligence must you perform with those entities that are your customers? Does doing business with companies that have a propensity for corruption put your company at risk even if your business not does not engage in such behavior and has a best practices compliance program in place?

I thought about all those questions and others when I read a recent piece in the Financial Times (FT) Lex column, entitled “Petrobras: rip tide.” The ongoing woes for the company, and indeed the entire country, around “Javo Lito” or Operation Car Wash are well known. Many companies have been dragged directly into the scandals or, at the very least, have been required to look more closely at their own commercial operations with Petrobras and Brazil more generally.

However, what could be the effect on your company if your customer is facing corruption charges or simply has to pull back operations because of corruption issues? One...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.