It may seem to bankers that they have been unfairly targeted by increasing compliance requirements recently. One directive after another has flowed down the pipe from regulators. But as firms have discovered, building and maintaining a culture of compliance and integrity brings with it many business rewards. What are the five best ways that financial institutions can weave compliance, business integrity and corporate social responsibility into all aspects of their operations?
In the age of specialization, many organizations turn to intermediaries to do business. They take the form of partners, suppliers, distributors, or agents, and many firms can have thousands of “feet on the ground” doing work on their behalf around the globe.
As its name suggests, corruption is a contaminating influence on whatever it touches, financial businesses included. That’s why various international parties—business decision-makers, policymakers, regulators, police, journalists, consumers—are seeking collaboration, transparency and partnership as they hash out solutions to the blight of corruption at local and national levels.