Is your compliance programme robust enough?

At a time when global enforcers are focusing their attention on both organisations and individuals, there has never been a better time to ensure that your compliance programme is as robust as possible.  Here are just a few high profile examples from the news during June 2013:

• Walmart replaced its leader in India following bribery probes by local authorities
• A cleric from the Vatican bank was arrested as part of an inquiry into corruption involving allegations that he tried to help friends to transfer money from Switzerland to Italy by plane
• The former treasurer of Spain’s ruling party is being held without bail while he awaits trial for corruption – he is apparently deemed to be a “flight risk” following the transfer of large sums of money from Switzerland to the USA and Uruguay

What do the above cases have in common?  On the face of it, not much.  However, all involve individuals who have allegedly chosen to do the wrong thing while working for large, reputable organisations.  Both their own individual reputations and those of the their employers can be at risk as a result of their actions.  It is only by taking swift, decisive action that large organisations can protect their reputations against the actions of “rogue employees”.  As we all know, prevention is much better than cure, so did these large organisations have adequate prevention and detection mechanisms in place, or did they believe that it couldn’t happen to them?

What about your organisation?