compliance

Rationality and Corruption: What Behavioral Economics Knows and What Most of us Miss.

Rationality and Corruption: What Behavioral Economics Knows and What Most of us Miss.

Do you make decisions with your brain or with your heart? Or none of them? Or both of them? Do not rush with an answer; it is not as straightforward as it might seem at a first glance. The cornerstone of economics is an assertion that people’s behavior is been impacted by incentives. People are not good or bad - people are people and they respond to incentives. Therefore, creating appropriate incentives is of the paramount importance. There is often a vast gulf between how people say they behave and how they actually behave.   

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A Q&A for Figuring Out: What is the Difference Between a Gift and a Bribe Under Ukrainian Law

A Q&A for Figuring Out: What is the Difference Between a Gift and a Bribe Under Ukrainian Law

Gift or bribe: where is the borderline?

A gift means any item (e.g., money, consumer electronics) or intangible assets (e.g., services, discounts) the one provides free of charge or below market value. In our politics, there were cases when a discount for buying an apartment was considered a gift.

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Transparency and compliance: a fad or a business need?

Transparency and compliance: a fad or a business need?

The demand of the Ukrainian business for integrity has been growing for several consecutive years, with the perception of compliance gradually changing – from a bureaucratic function to a full-scale driver of change, in processes and approaches.

Over the last year, the number of fraud and corruption incidents in the world has significantly increased. The Kroll Global Fraud Report-2019 cites 84% of CEOs having been exposed to at least one fraud incident during the last year. Such incidents significantly affected employee safety (82%), revenue or business continuity processes (78%), reputation (65%), and government relations (65%) of the surveyed companies. Simultaneously, Kroll commends the improvements in the efforts of governments and companies in identifying and resolving such issues…

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Honesty and Corruption: What Social Psychology Knows and What Most of us Miss?

Honesty and Corruption: What Social Psychology Knows and What Most of us Miss?

In my previous post, I shared my views on contribution of culture towards promotion of compliance. Now I would like to elaborate on this topic further, and share with you the results of some social psychology theories and experiments together with my views on how it might contribute to promotion and development of ethics and compliance in our business and society.

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Compliance Profession: The View from the Inside

Compliance Profession: The View from the Inside

We continue a series of posts called “Compliance Profession: The View from the Inside”. These are the interviews with known professionals in the area of corporate ethics and compliance who share interesting aspects of their work, ideas, views and useful materials.

Our today’s guest is Ario Dehghani. He came to Ukraine from Germany…

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No More Swedish House Mafia: the Swedish Secret Ingredient to Eradicate Corruption, Part III/III

No More Swedish House Mafia: the Swedish Secret Ingredient to Eradicate Corruption, Part III/III

In my previous posts, I have been musing about corruption and compliance in Sweden. Being impressed with what the Swedish Anti-Corruption Institute - the Institutet Mot Mutor (IMM) does in terms of promotion of compliance, I decided to ask Natali Phalén, the head of the IMM, to find out more about compliance culture in which the Swedish companies operate. Interested? Keep reading.

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Time Makes All the Difference: Price of One Letter, Part II/II

Time Makes All the Difference: Price of One Letter, Part II/II

In business, before starting any cooperation, it is necessary to carefully feel out the situation on many fronts. One option is to make sure that your potential partner is not under sanctions. After all, if s/he turns out to be, for example, on the list of the United States Department of State, the road to this country will be closed to your company. Cooperation with “offshore” firms can also tarnish your reputation a bit. And sometimes it happens that a bubble company, with which you have started cooperating out of negligence, after its disclosure, will drag you into a reputational pit too.

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