Compliance 101 Podcast Series, Episode 4: Risk assessing bribery

At the heart of any anti-bribery programme is a risk assessment. Like any other risk assessment, the specific risks will depend on your business and industry. But risks can change over time. For example, in light of the COVID-19 pandemic, medical supplies and PPE are some of the riskiest areas when perhaps they weren’t a few years ago. In this episode, Nick speaks to Transparency International’s Britta Niemeyer about how businesses can handle bribery and what they should do about it.

Gifts and hospitality register

Companies often have complex procedures regarding approvals, thresholds and recording of gifts and hospitality. Determining whether gifts comply with laws and policies across multiple jurisdictions can also prove complicated for administrators, especially for gifts sent overseas. Shortcomings in your reporting systems can be taken advantage of by those seeking to abuse their position, but they could also lead to oversights and honest mistakes.

The gifts & hospitality process in Omnitrack leverages dynamic workflows to seek the level of information needed, turn approvals into a seamless process and automatically build the compliance register and audit trail. Any workflow and approvals process can be incorporated into Omnitrack, allowing you to manage bribery risk your way.

How are you managing your GDPR compliance requirements?

GDPR added a significant compliance burden on DPOs and data processors. Data breaches must be reported to the authorities within 72 hours, each new data processing activity needs to be documented and Data Protection Impact Assessments (DPIA) must be carried out for processing that is likely to result in a high risk to individuals. Penalties for breaching GDPR can reach into the tens of millions of Euros.

“In a world older and more complete than ours they move finished and complete, gifted with extensions of the senses we have lost or never attained, living by voices we shall never hear.”