Leading financial service providers worldwide have recognized the importance of establishing anti-corruption strategies.

Corporate anti-corruption strategies are consistent with good governance and sound corporate values and ensure alignment with anti-corruption legislation such as the U.S. Foreign Corrupt Practices Act (FCPA) , Canada’s Corruption of Foreign Public Officials Act (CFPOA) and UK Bribery Act 2010.

The consequences of non-compliance are significant including multi-million dollar fines and jail terms for executives. In 2008, Siemens was fined USD 1.6 billion for violating the FCPA.

In 2010 US authorities estimate over USD 1 billion in FCPA penalties will be received.

The extraterritoriality of the US and Canadian Corruption Acts means that citizens or organizations of those countries can be charged regardless of where business is conducted.

The UK Bribery Act goes beyond this applying to non-UK individuals or entities that carry on business in any part of the UK. The UK Act also extends beyond the bribery of foreign corrupt officials to include the private sector.

The global demands for organizations to implement anti-corruption compliance programs will only increase along with the scope and rigour required.

Mongoose Global Intelligence enables an organization to meet stringent anti-corruption legislation by providing access to global watch lists, adverse media and extracted web intelligence that will allow an organization to screen potential clients.

Mongoose GI also enables businesses to regularly scan existing customer databases alerting compliance officers of name matches.

Mongoose Global Intelligence’s state of the art name matching algorithms combined with its highly configurable workflow significantly reduces false positives and streamlines the review process while providing a customized report to meet audit and compliance requirements.