ANTI-CORRUPTION

Anti-corruption for corporate integrity

Icon Anti-Corruption
A trusting, respectful corporate culture is the basis for long-term and successful business operations. We have developed a well-established compliance solution to support you in identifying corruption risks and taking anti-corruption measures.

PROXORA Third Party Risk Management (TPRM.360)

Our TPRM.360 solution supports you in efficient business partner screening and provides a tool for avoiding compliance violations such as bribery and corruption, human rights violations, and environmental damage, while taking company- and industry-specific requirements into account.

In addition to a holistic and continuous screening of business partners, our digital solution incorporates international and local standards in the fields of legal, compliance, security and sustainability, as well as sanctions and embargo lists. It supports you in complying with laws such as the “UK Bribery Act” or the new German Supply Chain Act.

With PROXORA’s 360-degree solution, you have an all-round view of all the risks of your business relationships with your “third parties” such as suppliers and other business partners and also transactions linked to them.

Download our anti-corruption TPRM.360 product flyer:

    Efficiently manage compliance risks

    The PROXORA Third Party Risk Management Module (TPRM.360) takes an automated, risk-based approach to managing audit efforts and focusing on risks that are actually relevant. The IT solution, which is available as a software-as-a-service in the cloud and is constantly being further developed, allows companies to benefit from a well-established standard. The module is configured to fit exactly to customer needs and is used by major corporations and medium-sized businesses. The integration of renowned external data sources such as Dow Jones, LexisNexis, Refinitiv, Dun & Bradstreet, etc. enables an integrated database check and supports the systematic and efficient management of compliance risks of all kinds.

    Corruption is the abuse of a position of trust in order to gain a material or immaterial advantage.

    Icon 1.

    Acceptance of benefits

    • The acceptance of money or benefits of monetary value, e.g. the granting of discounts, invitations to trips or events, are forms of acceptance of benefits if decisions are influenced in favor of the person granting the advantage.
    • In addition to financial benefits, indirect benefits also fall within the scope of corruption, such as the awarding of an honorary position, a career opportunity for a partner or a donation to a political party. 
    Icon 2.

    Granting of benefits

    • The granting of benefits arises when public officials or persons in public service receive advantages to which they are not entitled.
    • For example, a company needs a building permit to expand its logistics center and promises the building administration official EUR 500 if the permit is issued within the same month. 
    Icon 3.

    Passive Bribery

    • Passive Bribery refers to a specific wrongful agreement.
    • For example, a public official receives money for rejecting a competitor’s application to a public bid without serious consideration.
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    (Active) Bribery

    • Bribery is an active act in the field of corruption.
    • Bribery occurs when, for example, a public official receives money for violating official duties.

    Find out about the benefits of our anti-corruption solution.

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    Why are anti-corruption measures important?

    A clear and uniform approach to anti-corruption on all levels of the company and its employees avoids risks such as loss of reputation, e.g. damage to public image or a lack of trust in the neutrality of contract awards, and possible financial disadvantages or criminal prosecution.

    A careful behavior of companies, employees and business partners protects against unnecessary risks

    Practical guidance for anti-corruption measures

    Read more

    Avoiding Corruption – Advice for German Companies Operating Abroad

    Read more

    What is corruption risk management?

    A corruption risk management system includes processes for identifying, assessing and avoiding corruption risks within a company. In the risk analysis of an anti-corruption system, corruption risks are identified and assessed, mitigation measures are defined and all process steps are updated regularly.

    Best practice workflow from PROXORA

    The workflow in the Third Party Risk Management module (TPRM.360) was developed in corporate practice with experts from legal and compliance, purchasing, sales, and IT security. The module has also successfully passed several US monitorships and is considered a reference solution.

    Anti-corruption workflow

    Data Acquisition & Scope Check

    The details of the business partner to be checked are recorded and qualified via common IT interfaces or a manual entry by the requester. An upstream scope check supports the user in deciding whether and, if so, which assessment needs to be performed.

    Risk Assessment / Due Diligence

    The core element of the software is an intelligently configured risk assessment depending on the business activity and risk scope (corruption, Supply Chain Act, human rights, environment, etc.). Based on risk factors such as the environment in which the business partner is to operate, the respective compliance risk is determined. This automatically sets the scope and level of detail of the subsequent due diligence as well as the required approval levels.

    Corruption prevention in companies
    External questionnaires are used to obtain further information and documentary evidence directly from the business partner online without media breaks. Due diligence is enhanced by linking to relevant external databases or system-supported Internet searches.

    Approval

    The qualified data is checked for plausibility by relevant decision-makers (e.g. management in business, local compliance / ESG officer, corporate compliance officer) using the software. On this basis, a release, a release subject to conditions or a rejection can be made.

    Anti-corruption: How measures mitigate risks

    Mitigation: Integrity Monitoring & Measure Tracking

    The life cycle of approved business partners can be tracked within the software or controlled and monitored via defined measures. The continuous monitoring of business partners against current lists and the resulting alerts are also carried out via the module. The reconciliation against external databases takes place automatically every night.

    Dynamic reporting with dashboards

    Real-time data in easy-to-read dashboards and evaluations can be generated at the push of a button. This allows you to maintain an overview at all times and report professionally to your management.

    Reporting for corruption prevention with PROXORA
    Anti-corruption risk assessment
    “PROXORA’s IT platform supports us efficiently in our business partner process. We always experience the PROXORA team as flexible and reliable.”

    Compliance Officer of a major automotive manufacturer

    Modular and part of a holistic compliance platform

    Thanks to our platform strategy, the Third Party Risk Management solution (TPRM.360) can be flexibly extended by further modules of the PROXORA Compliance Ecosystem. The database and authorization management can thus continue to be used efficiently. We will be happy to advise you.

    Third Party Experience

    Benefit from our experience in corruption prevention.

    Back in 2008, the United States Department of Justice described our digital compliance solution as “state of the art.” The new processes “have set a high standard for multinational companies”. Proactively manage risks in the area of bribery and corruption in your company with our standard, which has been continuously developed further, both professionally and technically since then.
    Third Party Standard

    Rely on our proven standard in the field of anti-corruption.

    The “German Institute for Compliance”, DICO e.V for short, lists our solution for business partner compliance as a standard.
    Protect your business with confidence and comprehensiveness with our trusted solution, which has undergone years of practical use and multiple U.S. compliance monitorships.
    Third Party Risk Protection

    Protect your company fully against corruption.

    Protect yourself optimally against corruption risks in your Business Partner Compliance Due Diligence process and meet all strict regulations: from the US FCPA 1977 and the UK Bribery Act 2010 to the organizational obligations under German law (OwiG).

    You would like to implement an anti-corruption management in your company?

    I would be happy to advise you on how you can implement long-term corruption prevention and introduce corruption risk management with our solution for risk-oriented business partner due diligence.

    Wolfgang Sprung

    Wolfgang Sprung
    Product Owner Third Party Management and Anti-Corruption

    E-mail: nextlevel@proxora.com

    Anti-corruption compliance and Supply Chain Act (LkSG) compliance are part of PROXORA’s Third Party Risk Management (TPRM.360) for a holistic business partner due diligence.

    Schedule your personal demo on anti-corruption and third party risk management now

    We will demonstrate how our solution TPRM.360 can support you in implementing your anti-corruption compliance and make a significant contribution to identifying, mitigating and avoiding compliance risks.

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