The purpose of this document is to provide an overview of the key elements of an effective Anti-Bribery and Anti-Corruption (ABC) Program based on leading practices, including those published by Transparency International and the OECD as well as the expertise of MENA FCCG’s Technical Working Committee.
The success of an organization is closely connected with the confidence and trust placed in it by its employees, customers, regulators, stockholders, and business partners as well with its reputation in general. Therefore, the need for a comprehensive ABC framework is of vital importance as it demonstrates the institution’s commitment to ethical behavior and its recognition of its role in protecting the financial system against financial crime including bribery and corruption.
The issuance of the revised Wolfsberg Correspondent Banking Due Diligence Questionnaire (the revised CBDDQ) has placed even greater responsibilities on maintaining effective ABC Programs as the revised CBDDQ includes a comprehensive and dedicated section aiming to assess the correspondent institution’s ABC Program.
Virginie Gastine Menou
RISQUES ET VOUS