What can go wrong with third party due diligence?
Working with third parties continues to be the single biggest corruption risk for business. Almost one in two enforcement actions concluded since the OECD Anti-Bribery Convention came into force in 1999 was the result of bribery through sales agents, intermediaries, distributors or brokers.
Despite the clear risk, it remains one of the hardest anti-corruption areas to get right. For many international organisations, the complex web of third parties, fundamental to any global operation, presents significant challenges to effective due diligence. So what are the principle stumbling blocks and how can they be overcome?
In a recent FCPA Blog post GoodCorporation’s Anne Fleur Goedegebuure examines the pitfalls and pathways to effective anti-corruption due diligence on third parties.