In part 3 of this week’s five-part special, Tom Fox discusses corruption intelligence with Chris Mason. Chris returns to talk about how organizations can mitigate corruption within their corporate environments and the steps they can take to ensure they comply with regulations.
Chris Mason is with Infortal Worldwide, a global risk firm that provides due diligence services to support key investment decisions. Infortal Worldwide supports many private equity investments, mergers, acquisitions, and any risk scenario a business may face.
- Combating organizational corruption starts with setting the right cultural tone. Establishing your organization’s culture and how it will navigate anti-corruption regulations is critical to avoiding illegal and costly behavior.
- To conduct business overseas successfully, you must understand the culture of the country you wish to do business with. “Without really taking a holistic view of what’s going on on the ground level, you’re not going to truly understand what the business culture is that you’re jumping into,” Chris says.
- A key to due diligence is understanding who you’re doing business with. It would be best to dive deeper to understand who you partner with overseas. Basic checks aren’t enough. You need to know what’s happening on the ground.
- Using local resources when researching international markets is important to familiarise yourself with local customs and business culture.
- This will be critical for your team to be able to interpret any market intelligence collected.
KEY QUOTE
“Understanding who you partner with overseas is key to avoiding unnecessary corruption risks.” – Chris Mason
Resources
Infortal Worldwide | Email | Tel: 1.800.736.4999
