Innovation In Compliance With Tom Fox

When doing business in a new country, do you know what the bribery risks are? Robert Clark is the Manager of Legal Research at TRACE International, and he’s here to discuss the TRACE Bribery Risk Matrix, an excellent tool for the compliance practitioner, and deep-dive into it and how you can use it — so you don’t get caught unawares.What is the TRACE Bribery Risk Matrix? It’s a tool for assessing bribery risks on a country-by-country basis. Before 2014, the best available resources for doing this were general evaluations of the perception of corruption in each country. This tool is more specific, and does two things distinctively: (1) focuses on business bribery risk, and (2) takes a multi-dimensional view of that risk by looking at a range of factors or domains. What are these domains and how do they work? Opportunity: which is concerned with the direct engagement with public officials in each country. It asks three questions: How much interaction can you expect there to be? The more interactions you ha