Data-driven compliance: A new frontier for anti-bribery and anti-corruption risk programs

Despite significant regulatory advancements and the availability of innovative tools, many anti-bribery and anti-corruption compliance teams avoid implementing data-driven strategies. The author emphasizes the necessity of embracing an innovative approach to address these risks in the wake of evolving regulatory and enforcement demands.

Anti-bribery and anti-corruption (ABAC) programs are a critical priority for corporate organizations operating in today’s globalized business environment as these programs enable ethical business behavior and comply with various regulations around the world. Failing to adopt an approach focused on data and analytics and continuing a siloed approach toward compliance can allow illegal and unethical acts to go unnoticed, even resulting in significant fines and penalties as software company SAP SE (SAP) learned last year. In January 2024, the U.S. Department of Justice (DOJ) fined the German-based company $222 million, and the U.S. Securities and Exchange Commission (SEC) hit the company with a $98 million fine for paying bribes to South African and Indonesian officials.