Third-party bribery

Nearly half (49%) of multinationals are failing to carry out basic bribery and corruption checks on third party contractors before starting to work with them, according to a new report from Hogan Lovells. The report found that 47% of respondents are failing to carry out desktop due diligence, 44% don't ask third parties to complete a questionnaire, and the same proportion fail to conduct face to face interviews with third parties. The report, Steering the Course: Navigating third party bribery and corruption risk, is based on interviews with 604 high-level compliance chiefs and heads of legal in the UK, US, Asia, France and Germany.