The World Economic Forum estimates that corruption costs at least $2.6 trillion, or five per cent of global gross domestic product; and according to the World Bank, businesses and individuals pay more than $1 trillion in bribes each year. Under the FCPA, the UK Bribery Act, and many other anti-corruption laws, a company can be held liable not only for the corrupt actions of its employees, but also for a third party’s actions, if those actions are taken on the company’s behalf. Third parties remain one of the highest levels of risk exposure for multi-national companies, with over 90% of FCPA enforcement actions involving the actions of third party intermediaries, such as agents, consultants, or contractors.
This panel webinar brings together expert insights and perspectives from FCPA prosecutors as well as anti-bribery/anti-corruption compliance standards experts. We will explore how ABAC risk manifests itself in regards to third party relationships, how the global regulatory landscape applies to third parties and discuss some top ethics and compliance priorities regulators will be looking for in your third party ABAC compliance program.
Topics discussed in the webinar include:
- The nature of corruption risk in third party relationships
- Common third party ABAC risks and red flags
- What internal controls should you have in place to mitigate third party ABAC risk
- Challenges of and approaches to managing your third party network
- Trends in FCPA enforcement regarding third parties
- Global enforcement trends regarding third parties
- Anti-bribery management standards such as ISO 37001
Assistant Chief, DOJ Criminal Fraud (FCPA Unit)
U.S. Department of Justice
Partner, Morrison & Foerster LLP
(Former FCPA Prosecutor, U.S. Department of Justice)
Ephraim (Fry) Wernick
Fry is Assistant Chief of the Fraud Section’s Foreign Corrupt Practices Act (FCPA) Unit within the U.S. Department of Justice, Criminal Division, where he supervises investigations of multinational corporations and individuals for violations of the FCPA, money laundering and related criminal statutes. Fry has investigated hundreds of criminal cases, including several high-profile matters involving financial crimes and public corruption, and he has successfully first-chaired over 30 criminal cases at trial, including complex financial crimes, national security matters, and violent crimes. Fry also serves as a DOJ delegate to multiple international fora, including the U.N. Convention Against Corruption and the Organisation for Economic Co-operation and Development (OECD), he routinely speaks at business seminars and conferences, and he frequently trains domestic and foreign prosecutors and investigators on the FCPA. In 2017, Fry was detailed by DOJ to serve as counsel to the U.S. Senate Judiciary Committee, where he advised on national security and criminal law matters. Before becoming a prosecutor, Fry worked for two international law firms and also worked as an investigative counsel on the U.S. Senate Permanent Subcommittee on Investigations. Fry is a graduate of Brown University and the University of Texas School of Law.
Amanda is a partner with Morrison & Foerster in its FCPA + Anti-Corruption and Investigations + White Collar Defense Groups and based in the firm’s New York office. She represents companies and individuals in criminal and civil enforcement matters, conducts internal investigations, and advises companies on global compliance issues. Before joining the firm, Ms. Aikman was a prosecutor with the U.S. Department of Justice (DOJ) in the Fraud Section of the Criminal Division. As a member of the Foreign Corrupt Practices Act (FCPA) unit, Ms. Aikman investigated and prosecuted violations of the FCPA as well as other white collar crimes and was involved in a number of significant cases. She was also responsible for researching and preparing the first comprehensive draft of the landmark joint DOJ and U.S. Securities and Exchange Commission (SEC) publication, A Resource Guide to the U.S. Foreign Corrupt Practices Act. Ms. Aikman received her J.D. from Yale Law School and her B.A. from Stanford University.
Bryn Sedlacek is a Director of Business Development at Aravo. She has worked extensively in the Anti-Bribery/Anti-Corruption/FCPA space, from due diligence, compliance program design, global roll-outs of compliance initiatives and serving as a member of the US Technical Advisory Group for the ISO 37001 Anti-Bribery Management System standard. Bryn has considerable experience with GDPR compliance, helping companies prepare both internally and externally for GDPR regulation enforcement. She holds a B.A. in Political Science and Islamic Studies from Vanderbilt University, and an M.A. in International Security from the University of Denver Josef Korbel School of International Studies. Bryn is based outside of Boulder, CO.