Enhancing Your AFC Program to Detect and Report Bribery and Corruption

In December 2021, the Biden Administration released the National Strategy on Combating Corruption. Most recently, in September 2022, the European Commission announced an anticorruption initiative which would strengthen the prosecution of bribery and corruption offenses by imposing unified rules for member states. These measures require elevated vigilance from financial institutions when dealing with corruption risk. This includes implementing a host of specific internal controls, including Know Your Customer/Customer Due Diligence (KYC/CDD) measures, transaction monitoring, staff training and alert escalation. This second in a series of three webinars about corruption will explore ways in which a financial institution can best use its finite resources to build an effective and efficient Anti- Bribery and Corruption (ABC) program as part of a broader Anti-Financial Crime (AFC) framework.