Responding to Anti-Bribery & Corruption regulatory challenges

Responding to Anti-Bribery & Corruption Challenges

For the first time in South Africa, we are experiencing enforcement actions by both the US Department of Justice and the US Securities and Exchange Commission against South African companies, headquartered and operating in South Africa and listed in the US.

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ABC

For the first time in South Africa, we are experiencing enforcement actions by both the US Department of Justiceand the US Securities and Exchange Commission against South African companies, headquartered and operating in South Africa and listed in the US.

Continued high levels of US enforcement of the Foreign Corrupt Practices Act (FCPA) have been enhanced by heightened anti-corruption initiatives and awareness globally, including the enactment of the UK Bribery Act (UKBA).  Companies doing business or hoping to expand outside the United States must mitigate anti-bribery andcorruption (ABC) risk.  A key component of understanding the risk of expanding into new territories is conducting an assessment of the associated political and bribery risks.

Lapses in ABC Compliance have the potential of resulting in substantial fines and penalties, reputational harm, diversion of management’s attention, economic cost from investigations and criminal prosecutions.  A comprehensive ABC Compliance solution will address potential exposure to enforcement action.

© 2017 KPMG Services (Pty) Limited, a South Africa private company and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.

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