Over the past decade, global banks have been implicated in numerous corruption scandals, paying billions of dollars in fines and penalties, often as part of multi-jurisdictional settlements. The availability of detailed prosecution records provides unique access to the anatomy of bribery and corruption as it unfolded over the years. These records show how the breakdown of multiple internal controls led to systemic failures — resulting in significant costs for shareholders, employees, clients and society at large. This last in a series of three webinars about corruption will detail the tribulations of three international banks, each of which had to pay multimillion-dollar fines and agree to extensive remediation efforts to clean up its record of bribery abroad. Their experiences will be used to analyze what went wrong, which risk indicators should have been heeded and what measures would have prevented the worst outcomes.
Reviewing in detail the bribery and corruption cases of three global banks
Analyzing the underlying strategic and contextual causes of non-compliance in each case
Examining the missed red flags and the practical steps that should have been implemented to mitigate ABC risk