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Companies Struggle to Manage Third-Party Corruption Risk

Jaclyn Jaeger | June 19, 2012

Corporate compliance departments are increasingly uneasy about their exposure to bribery risks, and many say they are still not up to snuff when it comes to policing third parties and eliminating facilitation payments.

According to a recent study from Kroll Advisory Solutions, 69 percent of 139 compliance executives surveyed say their companies have either high or moderate exposure to bribery risk. And in the pharmaceutical industry, all of the respondents say risks are high or moderate.

The biggest concern comes from corruption risks related to third parties, such as resellers, distributors, agents, or joint-venture partners. “In general, companies are still incredibly uncomfortable about the process of managing third parties,” says Bill Pollard, a partner in Deloitte's Foreign Corrupt Practices Act consulting practice.

The Kroll study comes at a...

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