Dynamic, Data-Driven, Fully-Integrated – The Formula for Ensuring Effective Anti-Corruption Compliance
Recent policy shifts and guidance from U.S. regulators have underscored the importance of implementing well-designed and effective compliance programs, especially for multinational, matrixed organizations operating in high-risk jurisdictions. With U.S. agencies actively pushing for stronger anti-corruption measures, compliance professionals face the daunting task of aligning corporate procedures with an increasingly complex and rapidly evolving regulatory landscape.
The highest levels of the U.S. government are echoing a resounding call for collaboration and cooperation—fulfilling their commitment to combat corporate crime. Notably, Deputy Attorney General Lisa O. Monaco and Assistant Attorney General Kenneth A. Polite, Jr. have been vocal advocates for anti-corruption reforms. Illustrative of their commitment, the DOJ has announced the creation of the International Corporate Anti-Bribery Initiative (ICAB). Additionally, in late 2023, the U.S. adopted the Foreign Extortion Prevention Act (FEPA) which establishes criminal liability for foreign officials who demand or receive bribes from any U.S. person or company while located in the U.S. Companies must account for this expansion of U.S. bribery law—which formerly criminalized only the offering or giving of bribes—by updating their compliance programs to address and adequately train employees on the demand-side of bribery.
With U.S. corporations paving the way with reinforcing its already robust system of accountability, multinational compliance programs must prepare to be held to the same standards for their workforces. Compliance professionals are thus challenged to enhance the management, communication, and reinforcement of anti-corruption measures amid escalating enforcement risks. Multinational compliance programs are expected to foster a ‘culture of compliance’ and establish effective, multidirectional internal communications that facilitate smooth information flow and shape employee engagement and perception of the organization’s mission, values, and culture. To achieve this objective, multinational, organizations will look to revamp their compliance programs to be more dynamic, data-driven, and deeply integrated at all levels of the organization.
Partner, Ropes & Gray