GLOBAL RISK ALLIANCE

Taking steps to blow the whistle can be one of the most stressful things that an individual does in their lifetime and there are many global cases where retaliation is taken against an individual for a disclosure that they make in good faith.

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Introducing a whistleblower platform as part of a risk mitigation approach not only reinforces an organisation's ethical culture but also promotes a compliance environment and sends a clear leadership message of expected standards and an organisation's ethos.

Approach to risk mitigation

There are many forms of transnational and financial crime risk that can impact an organisations global supply chain, whether it is fraud and corruption in public procurement, modern slavery or organised crime infiltration of procurement through the distribution of counterfeit products.

Preventing procurement fraud and corruption risk including other financial crime or fraud schemes, through designing out risk, understanding the various illicit methods and where an organisation can be impacted are the first steps in protecting an organisation from the reputation and the financial impact of fraud.

Education is an integral part of a response to financial and reputation risk. An organisation that has an anti-fraud culture and has fraud and corruption training and awareness at its core will create an environment where risks are identified, reported, and greater measurement of prevention and detection controls.

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