For multinational corporations to implement a robust risk-based strategy, staff must first understand the various dimensions of corruption. Procurement, conflict of interest and civil service are all areas where organisations can encounter corruption from both external and internal channels.
Multinational corporations must ensure that they have in place a solid compliance regime as well as the requisite expertise to identify and mitigate the threat of corruption.
Above a certain level, money laundering and corruption work in tandem. The compliance function’s inability to maintain anti-corruption defences can lead to severe consequences.
Turning a blind eye to corruption will not be tolerated by shareholders and board members when the consequences can be severe reputational damage, fines or imprisonment.
International research, industry-specific examples and red-flag indicators are incorporated into ManchesterCF’s CCT (Corruption) training program. Without specific training, multinational corporations run high levels of risk in their financial crime compliance programs.
The CCT (Corruption) program can be implemented with the following components:
- Digital textbook
- Computer-based training (customisable and SCORM-compliant)
- Multiple languages