The Rise of Reputational Risk (Kroll Perspectives Vol. 4, No. 2)

Date: May 2017

Reputational risk is on the minds of not only ethics and compliance professionals, but also senior-level executives and boards of directors as they consider their organizations’ anti-bribery and corruption programs. Kroll’s Kevin Braine, head of Compliance, EMEA, spoke with Corporate Compliance Insights on the findings from Kroll’s "2017 Anti-Bribery and Corruption Benchmarking Report," produced in partnership with the Ethisphere Institute. Kevin also provides his perspectives on a wide range of compliance-related topics that include:

  1. Optimal reporting structure for the Chief Compliance Officer
  2. Evolving threats and risks facing corporate compliance professionals
  3. How Chief Compliance Officers, Chief Audit Officers, and Chief Risk Officers can prepare to face these risks

MORE KROLL INSIGHTS

Although complete details of the hacking that set every tornado siren throughout the city of Dallas blaring at 1 a.m. on April 8 have not yet fully emerged, the breach was no high-end spycraft or National Security Agency (NSA) zero-day exploit. In this post, Kroll’s David Dunn notes that like almost all of the major cyber/data breaches that have occurred over the past 15 years, this one will come down to the basics. David also discusses the larger issues of securing critical systems, as well as those devices that are internet-connected.

The recent spate of terrorist attacks in Bangladesh is forcing foreign firms to reassess whether the business prospects and opportunities of investing in Bangladesh – one of South Asia’s fastest growing economies – outweigh the political and security risks in the country. Managing Director Reshmi Khurana and Associate Director Vyshak Vitobha offer safety measures that companies should implement before any travel to the region.

“Data analytics” has become a buzz word in consultant-speak in recent years. But there is little explanation of its practical applications for companies. In this article, Managing Directors Zoë Newman and John Slavek look at the question of whether perpetrators of fraud are becoming more sophisticated at covering their data trails. They also describe how companies can use data analytics to detect fraud, bribery, and corruption.

Many companies, particularly in fast-growing Asian countries, are waking up to the risk of valuable trade secrets and technologies being stolen or leaked through their employees. Kroll’s Asia Regional Managing Director Tadashi Kageyama and Managing Director Marianna Vintiadis discuss seven common mistakes that companies make in dealing with employee-related risks of information theft.

Hotel operators are on alert in the wake of a recent incident where a famous Austrian resort was hacked, preventing the hotel from programming keycards for guests. Kroll Associate Managing Director Ilya Umanskiy and Senior Director Tam Thien Huynh spoke with AsMag.com on how hotels can protect themselves and mitigate the damage caused by cyber attacks.

ANNOUNCEMENTS

Announcing new leaders, practice launch, and awards

David Brown, Managing Director, Dallas. The former Chief of the Dallas Police Department, David is a nationally recognized expert on promoting law and order and reducing violent crime, particularly through the use of highly effective community-based methods. He is also well known for his crisis management expertise, which he demonstrated last year in his handling of the nation’s worst-ever police shooting incident that resulted in the death of five Dallas police officers and injury to nine others.

Kenya Mann Faulkner, Managing Director, Philadelphia. Kenya has more than 25 years of significant experience as a defense attorney, federal prosecutor, state inspector general, and commercial litigator. She is a highly accomplished professional with a proven track record for working effectively in several complex areas of the law as well as critical enterprise risk management initiatives, including ethics, compliance, conflicts of interest, and institutional governance matters.

Pablo Iragorri, Managing Director, Bogotá. A native of Colombia with extensive international experience, Pablo understands the Latin America risk landscape well. He has more than 12 years of significant, executive-level expertise in complex corporate investigations, litigation support, project management, business development, and process restructuring and strategy.

Kroll has launched our Sexual Misconduct and Title IX Investigations practice, co-led by Managing Directors Mark Ehlers, Kenya Mann Faulkner, and Dan Schorr. For decades, Kroll has helped clients investigate allegations of sexual misconduct at educational institutions and at other organizations. Our experts, who have extensive knowledge and insight in these matters, are especially mindful of the unique sensitivities and concerns when conducting these kinds of investigations and are prepared to address each client’s specialized investigative needs. Learn more.

Kroll was voted Best Litigation Dispute Advisory Services Consultant, Best Corporate Investigations Provider, and Best Cyber Security Provider in the "2017 Readers Choice Survey" published by the National Law Journal. Read more.

FEATURED WEBINAR

Strategies for staying ahead of bribery and corruption challenges

On-Demand. Earlier this year, hundreds of senior compliance leaders told Kroll and the Ethisphere Institute what they perceive to be their greatest risks in our "2017 Anti-Bribery and Corruption Benchmarking Report." Do you share the same challenges? Are you aware of or giving the requisite attention to new risks that have emerged? More important, what are the most effective ways to stay ahead of bribery and corruption challenges in 2017 and beyond?

In this webinar, hear from Managing Director Kevin Braine and Associate Managing Director John Arvanitis from Kroll, and Erica Salmon Byrne from Ethisphere, as they share their insights on the practical implications of the most significant findings in the ABC Report, including the growing concern over third party and reputation risk. WATCH NOW.

Upcoming Events

EMEA EVENTS

  • May 10, 2017 Dubai

Corporate Counsel Forum Middle East

  • May 17-19, 2017 Barcelona

International Anti-Counterfeiting Association Spring Conference

  • May 20-24, 2017 Barcelona

International Trademark Association Annual Meeting

  • May 22-25, 2017 Warrington, UK

2nd Annual Industrial Control Cybersecurity Nuclear Summit

  • June 1-3, 2017 St. Petersburg, Russia

St. Petersburg International Economic Forum

NORTH AMERICA EVENTS

  • May 9, 2017 Washington, D.C.

Today's General Counsel Compliance and Ethics Summit

  • May 22-24, 2017 Washington, D.C.

Compliance Week 2017

  • June 1, 2017 Minneapolis

2017 Anti-Bribery and Corruption Benchmarking Report Roundtable with Ethisphere

  • June 5-7, 2017 Philadelphia

2017 NetDiligence Cyber Liability Conference

On-Demand Webinar

WHAT LEGAL AND COMPLIANCE PROFESSIONALS SHOULD KNOW ABOUT DATA BREACH RESPONSE

just like any other independent investigation, data breach response requires careful legal navigation. In order to meet this growing client need, legal and compliance professionals must first understand the intricacies of a data breach response.

This webcast, featuring insight from Kroll’s Global Cyber Security Practice Leader Jason Smolanoff and John Reed Stark, former Chief of the SEC’s Office of Internet Enforcement, fills that critical gap — reviewing data breach response workflow in plain English, designed exclusively for legal and compliance professionals who want to take the lead of, or assist with, data breach response engagements and investigations. WATCH NOW.

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