London, 25 June 2010: Today, World-Check consultant Mr Robert Mitchell has spoken about the ramifications of the new UK Bribery Act at the MLRO & Financial Crime Convention.
(PRWEB) June 25, 2010 -- Mr Mitchell, a senior consultant at World-Check, the market pioneer and leading global provider of risk intelligence and due diligence services, explains specific issues of the new Act. He gave details of how to comply with the Bribery Act, the potential pitfalls of High Risk Jurisdictions and joint ventures, as well as the issue of ongoing monitoring and how best to achieve this for higher risk jurisdictions and sectors.
The convention is being hosted at Le Méridien Piccadilly in London over two days, with today’s focus of debate and conversation the new UK Bribery Act.
Financial crime is evolving into sophisticated, high-tech practices of unprecedented scale. With governments worldwide responding to eliminate the growing threat, the financial services industry is struggling to contend with ever-mounting prevention requirements. Significant penalties and fines, legal battles, jail terms, damaged reputation as well as potential declines in shareholder value make countering crime a business-critical function.
There is a growing urgency for organisations to get to grips with fast evolving legislation, and events such as today’s Convention is a valuable method of gaining insight into the pertinent issues as well as networking with experts.
Trusted by more than 4,500 institutions in over 160 countries, including 49 of the world’s top 50 banks, World-Check offers an end-to-end solution for assessing, managing and remediating financial, regulatory and reputational risks. World-Check’s global database of Politically Exposed Persons (PEPs) and heightened risk individuals and entities, due diligence reports, passport verification and country risk assessment tools provide the means to address the full spectrum of risk across all markets and industries. Represented across five continents, World-Check’s international research team monitors emerging risks in more than 50 languages, covering over 240 countries and territories worldwide.
For more information visit http://www.world-check.com/
World-Check Media Desk
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[Via Legal / Law]