Inmarkets launched its e-learning course on responsible gaming at a product launch at the Portomaso Business Tower in Malta. The event was attended by key officials from 40 gaming companies. The company has been steadily building a portfolio of courses consisting of anti-money laundering, information security and fraud prevention in collaboration with the Lotteries and Gaming Authority. This forward-thinking project by the LGA promises to raise the levels of professionalism in the Malta gaming sector. “We are delighted to have had the opportunity to work with the LGA to create these trend-setting e-learning courses,” Inmarkets director Vivek Dodd said. “The initial take-up of the courses has been excellent and we believe that the experience of these clients will help to spur demand for e-learning not just from iGaming, but other companies and government entities in Malta.” Bernard Zarb, head of the AML Unit at the LGA said the regulator had a very positive experience of working with Inmarkets, not only in the development of these modules but also in rolling them out to all LGA employees. “The feedback from our staff has been positive and many have said that this is how they want learning to be delivered in the future. Staff training is a key part of compliance with AML and other laws and regulations at casinos and iGaming firms, and with the availability of these e-learning courses there is no excuse for failing to meet this obligation,” he added. http://www.timesofmalta.com/articles/view/20120503/business-news/Inmarkets-supports-Malta-s-evolution-into-an-e-learning-champion.418127 Add Comment This month’s scenario follows the story of an executive who’s tempted to make a small payment to get out of a tricky situation. This should be familiar to many executives who’ve travelled to high-risk countries. As with previous scenarios, you’ll first have an opportunity to decide on how the executive should proceed considering the pros and cons of the situation, and then you will receive TI UK's advice on the best course of action. Click Login at www.inmarkets.com to sign up for a free demo account to view the scenario. “Doing Business Without Bribery” has been developed by Transparency International with the support of FTI consulting and Inmarkets.You can license this course for use in your organisation, customise it to fit with your internal procedures and corporate risks, and use it for awareness or practical training. If you would like to know more, please contact Laurence Tanti (ltanti@inmarkets.com). We hope you enjoyed reading last month’s anti-bribery scenario, drawn from Transparency International UK’s “Doing Business Without Bribery” e-learning solution. This month’s scenario follows the story of an executive who is charged with managing the relationship with a country agent. It starts with a typical request by the agent for a higher commission, which raises questions about the agent and his integrity. The company obviously doesn't want to lose an over-performing agent but must still perform due diligence in line with its obligations under the UK Bribery Act (UKBA). Through this journey of balancing legal and commercial imperatives, you will have the opportunity to advise on the best course of action, and receive TI UK's advice on how to prevent bribery when working via agents. Click Login at www.inmarkets.com to sign up for a free demo account to view the scenario. “Doing Business Without Bribery” has been developed by Transparency International with the support of FTI consulting and Inmarkets.You can license this course for use in your organisation, customise it to fit with your internal procedures and corporate risks, and use it for awareness or practical training. If you would like to know more, please contact Laurence Tanti (ltanti@inmarkets.com). Anti-Bribery Scenario of the Month 24/02/2012
Each month we invite you to review a new interactive anti-bribery scenario drawn from Transparency International UK’s “Doing Business Without Bribery” e-learning solution. This month’s scenario follows the story of a young executive who wins her first contract, but then finds herself getting entrapped by seemingly innocent demands that could have a corrupt outcome and violate the UK Bribery Act (UKBA). At each critical juncture of the story you will have the opportunity to advise the executive on the best course of action, and in the process learn how to avoid and resist bribery when dealing with public bodies. To access the scenario please login to our Essential Learning Portal - if you do not already have a username and password you will be to register for a free account. “Doing Business Without Bribery” has been developed by Transparency International with the support of FTI consulting and Inmarkets. For more information about how you can use this solution to meet UKBA’s "adequate" procedures requirement for your company, please contact us. We are pleased to announce that the structured e-learning version of Doing Business Without Bribery is now available for purchase from Inmarkets. This course has been developed by Transparency International UK with the support of Inmarkets and FTI consulting, and represents a benchmark in practical anti-bribery training. You can use this course as a part of adequate procedures to raise awareness and/or provide practical training. Unlike the free untracked version of this course available from Transparency International UK, the structured e-learning version enables you to assess your staff's understanding, maintain records and generate reports for audit. Click here to find out more. You may also be interested in the proceedings of the "How Effective is Anti-Bribery Training" conference where we launched the course. 1) Chandrashekhar Krishnan, Executive Director of Transparency International UK, underlined the importance of training and how this follows directly from the Adequate Procedures guidance that TI-UK published last year. 2) Richard Alderman, Director of the SFO, delivered the keynote address in which he spoke about trends in the fight against bribery and corruption in 2012. Click the link below to see the full text of his speech. http://www.sfo.gov.uk/about-us/our-views/director's-speeches/speeches-2012/transparency-international-anti-bribery-training-launch---how-effective-is-anti-bribery-training.aspx 3) Catriona Razic, Director of Inmarkets, introduced the Doing Business Without Bribery E-learning course, and explained how individuals and companies can benefit from using it. Click the following link to view her presentation: http://www.youtube.com/user/InmarketsAntiBribery 4) Lord Newby chaired the panel discussion. The panel comprised Peter Lloyd, CEO of Mabey Bridge, Graham Clarke, Director of Group Security at Centrica, Nick Benwell of Simmons & Simmons, and Julian Glass of FTI Consulting. Some of the key points to emerge were: a. Many companies have created policies, but it is now time to take action. b. Even though a tough stance on bribery may lead to a loss of business in the short term, that can be reversed as the company is seen to be sticking to ethical principles. c. E-learning is an efficient way of training large numbers. However, the people working in the field in higher risk jurisdictions need very specialist training, often on the job. How effective is anti-bribery training? 03/01/2012
Anti-bribery training has emerged as a key aspect of companies' anti-corruption strategies and the corporate response to the Bribery Act and FCPA. Transparency International UK is publishing a set of anti-bribery training materials that will: · Provide all companies with free access to high quality training materials · Give TI's view of how to resolve typical scenarios including gifts and facilitation payments · Enable companies to benchmark their own training materials against best practice materials The training materials combine the worldwide anti-corruption expertise of Transparency International with the expertise of FTI in anti-bribery investigations and Inmarkets in e-learning and training. This new training program will be launched at an event on 18th January 2012 at The Law Society's Hall, 113 Chancery Lane, London WC2A 1PL. KEYNOTE SPEAKER: Richard Alderman, Director, Serious Fraud Office. 0800 Breakfast and registration. 0830 Presentation, panel discussion and Q&A. 0930 Close Transparency International is the world's leading non-governmental anti-corruption organisation. FTI Consulting is the global business advisory firm dedicated to helping organisations protect and enhance their enterprise value. Inmarkets is a leading e-learning innovator that focuses on implementing critical governance, risk and compliance (GRC) learning initiatives in companies worldwide. UKBA Update 25/11/2011
This week's top bribery news items have been: • SFO denies looking for ‘low hanging fruit’: In a recent speech, Richard Alderman said: “I know what the low hanging fruit are and I'm sure that in a week or so we could find half a dozen cases or more. But that is not our approach. We are looking for the more difficult cases.” • Court clerk jailed in first UK Bribery Act sentencing: The first UK Bribery Act case concluded with court clerk Munir Patel being jailed for three years for a count of bribery, and six years for misconduct in a public office. • SFO to launch inquiry into Olympus scandal: The SFO has become the latest regulator to launch an investigation into Olympus, the scandal-hit camera and endoscope maker. Over the past year, the FSA has identified a number of failings of regulated firms that held client money and client assets. Consequently, the FSA has increased its resource devoted to this issue and now has a specialist unit focused on firms' compliance with its CASS Rules. Non-compliance with client money rules is a leading cause for firms being fined by the FSA, and the fines are 1% of the client money and client assets that your firm holds! Have a look at some of the recent cases below:
EU plans criminal sanctions for Market Abuse 09/11/2011
Last week, the European Commission proposed a draft to update the 2003 Market Abuse Directive to toughen up penalties on traders who manipulate markets. The new provisions:
However, many of the above provisions are already in force in the UK, which, as usual, leads the way in EU financial regulation. UKBA Update 28/10/2011
This week's Bribery Headlines:
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