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This post was originally shared by Nasdaq. August 2020
When it comes to solving and preventing financial crime, George “Ren” McEachern, Managing Director at Exiger and Former Acting Unit Chief of the FBI’s International Corruption Unit, is an expert.
A few of Ren’s takeaways for companies looking to avoid this kind of corruption include:
- Live check-ins with teams during COVID-19. Connecting with colleagues is important as 2020 has seen a massive increase in fraud. Make sure your people are okay.
- Business unit and compliance cross talk. For instance, when a business is looking into emerging markets, learn how to enter intelligently and mitigate risk by having compliance involved starting in the early planning and strategizing stages.
- Embracing a culture of speaking up. People within a company must feel willing to be a whistleblower and not have fear of retaliation.
- Third party relationships can pose heightened risk. Before working with any third party, do your research and evaluate them. Due diligence matters.
Want to learn more about how Exiger can help your compliance and third party risk management program? Contact us.
