Lawyer Monthly Magazine - March 2020 Edition

Fausto De Angelis Compliance risks companies face in this era and how to avoid them Based on my experience within the global business environment, the major risks impacting enterprises are antitrust, bribery & corruption, environmental issues, money laundering, cyber crime and trade restrictions. A good method behind tracking and monitoring risks are built from five steps; I see these steps as pillars to build up a robust and effective system to monitor and prevent risks. They are as follows: 1) Using forensic data analytic tools Statistics show that the risks businesses are facing are not receding. A robust compliance program is essential for improving company business performance, protect brand reputation and increase shareholder value. Corporate Compliance Issues and How to Avoid Them 2) Having an anti-corruption due diligence process in place 3) Having an effective escalation mechanism in place to minimise the damage being done 4) Creating a tailored and “tracked” training program for the employees 5) Allocating budget support for internal audit and compliance functions How effective enterprise risk management can identify risks before they become a major issue In order for risk management to Contact: “Fda Law Firm” - Legal Services In Business Law Founder: Fausto De Angelis Via Rinaldo Arconati N° 51 21100 Varese (Italy) Tel: + 39 335 6402404 Www.fdabusinesslaw.com Https://Www.linkedin.com/Company/Studio-Legale- Avv-Fausto-De-Angelis/ 48 WWW.LAWYER-MONTHLY.COM | MAR 2020 An InterviewWith