Combat global corruption

Corruption takes many forms and can pervade every human endeavor where temptation and opportunity meet. Though no enterprise or business is immune, geographic location can make a difference in the frequency or magnitude of the challenge. Companies that build an international presence through expansion, diversification, cross-border deals or involvement with emerging markets face risk. To protect their investments, enterprises must work to promote ethical business practices across all of their operations. Their compliance programs should reflect local laws as well as regulations such as the Foreign Corrupt Practices Act and the UK Bribery Act or regulatory regimes under the treaties of the United Nations and the Organisation for Economic Co-operation and Development (OECD). Reputational risk, which has grown to formidable levels, must also be thwarted: social media allows news to linger in the public eye, and bad news sells.

 
Global Economic Crime Video Series
The impact of reputational damage

 
To be among those who will succeed, you’ll need to enter business in Russia with a strong and unwavering focus on corruption-related challenges.

Marketmap - The Russian evolution: How can foreign businesses prepare to prosper?

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Doing business in Russia: Nyet and da, opportunities and challenges

 
The anti-corruption regulatory movement is emerging as one of the most formidable compliance challenges confronting the private sector.

10Minutes on changing corruption risks

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Anti-corruption practitioners know that third-party relationships represent one of the primary areas of risk for potential violations of the global regulatory framework and generate the greatest number of sanctions.

Figure out how to promote ethical behavior and neutralize moral hazard.

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Preparation as defense

To control, contain and ultimately mitigate losses and protect your reputation you need to practice constant and ongoing proactive vigilance. PwC believes that the best way to stem the contagion of corruption is to prepare for it: refine compliance measures; forge links with regulatory bodies and law enforcement; and strive to make your business emblematic of the integrity you seek.