As with prior years of the Kroll Anti-Bribery and Corruption Benchmarking Report, respondents who have concerns with the regulatory horizon primarily worry about a stricter and increased regulatory environment (60% compared to 55% in 2021). The leading causes for concern also include increased enforcement activity (51%) and an increasing reliance from regulators on self-reporting (41%). These reasons for regulatory concern are proportionally similar across all surveyed regions globally and are consistent with prior years.
This is despite the lull in Foreign Corrupt Practices Act (FCPA)-related enforcement in 2021. Prior Kroll benchmarking surveys found a majority of respondents expected increased activity that did not materialize, at least not based on FCPA enforcement actions from the U.S. Department of Justice and U.S. Securities and Exchange Commission. The lull may have been caused by the broader slowdown in government processes due to remote work. Enforcement actions are also based on the duration of time to conduct complex investigations and self-disclosures occurring, which may materialize into more resolutions in 2022.
Concerns with an increased regulatory environment may also influence an expectation for heightened compliance burdens, as 70% of survey respondents believe that the compliance function will generally take on increased responsibilities to meet expectations in 2022. However, organizations continue to feel well-equipped for these new responsibilities....
Count Binface has corrected Nadhim Zahawi after he claimed the Clacton by-election candidate had received a 180,000 donation from businessman Dale Vince. Last Friday, on the morning the results we...