Linworld's 8th Asia Anti-Corruption Compliance Summit 2022
Linworld’s 8th Asia Anti-Corruption Compliance Summit 2022 was held successfully on August 18-19 in Shanghai Marriott Hotel Hongqiao, Shanghai, China. Hundreds of participants from leading companies discussing the latest developments, challenges and cases regarding the anti-corruption and compliance field. Most of attendees provided positive feedback to this event and expect to attend next one.
The two-day event mainly consists of the following 4 parts.
First part: Deep interpretation of multi-jurisdictional anti-corruption laws and anti-money laundering laws. Speakers from government officials, World Bank, Paul Hastings, Fangda Law Firm, Duan & Duan and Han Kun Law Offices went deeply into FCPA, UKBA, China New-Unfair Competition Law, the Data Security Law, the Anti-Foreign Sanctions Law and enforcement trends by policy updates and real case studies.
Second part: Firsthand experiences from industry leaders. The risk management mechanism from Siemens, third party management systems from ADM, best practices in third party diligence from Trace International, Internal Compliance System Set Up from SAP evoked lively discussions and aroused another hot topic “The introduction of new technology to enforce the compliance systems”.
Third part: How to use new technology to help fight corruption and other risks. In this section, In-house counsel from HSBC, Bosch, Cargill, Assa Abloy, Eaton, Trane Technologies, Dover, top lawyers from Zhonglun, King & Wood Mallesons, Jincheng Tongda, and leading experts from Ernst & Young, PwC, KPMG, Deloitte, Baker & McKenzie and Grant Thornton sat together to discuss how to use ISO37301 and new technology such as AI, machine learning, dashboard to help fight corruption and how to deal with China’s New Data Security Law, Personal Information Protection Law and steps to data protection compliance.
Forth part: Culture of compliance journey and internal investigations. Industry veterans from Accenture, Suez, Johnson Controls，Owens Corning，Ecovacs shared their experience on how to truly enable employees to accept compliance culture and implement it practically in their own initiative and how to promote a speak-up culture in APAC. HSBC, Zhonglun Law Firm, PwC, Bosch shared their views on how to do Corporate Self-Assessment and Internal Investigations.
During two-day event, speaker and delegates shared numerous advice, such as 1. There is no room for compromises or negotiations on Compliance. 2. We Compliance are neither PRO nor AGAINST Business … we are WITH Business. 3. With recent tensions between China and the US, the MNCs sometimes might be ostracized inside and out, and be much more aware of the ever-changing enforcement trends. 4. Sanction violation also leads to heavy penalties and enforcements. 5. Politically exposed person (PEP) are significantly vulnerable to corruption, relatives and close associates also poses corruption risk. 6. Sanctions screening program within compliance programme is necessary to check customers against the relevant OFAC sanctions lists. 7. Assessment of risks of cross-board data transfer and information sharing needs priority. 8. Balance multiple goals, e.g. pursue employees liability if proved by the investigation, company’s liability, the probability of triggering government investigation, cross-board jurisdiction's conflicts. 9. In this digital age, techniques are becoming more sophisticated and shall redefine the new flags to detect them.
Although the 8th Asia Anti-Corruption Compliance Summit 2022 is closed, however the discussion of the above-mentioned topics are still going on. Linworld Group will continue to make efforts to provide platform to those who are interested in learning more about the developments of anti-corruption compliance trends in China, Asia and globally. We strongly believe that general counsel, chief compliance officer, internal auditor, management team and other finance and risk control professionals across all industries around the world will benefit a lot after attending our event.
Upcoming ACC events:
7th China International Anti-Corruption Compliance Summit 2023, April 17-18, 2023. Shenzhen, China
9th Asia Anti-Corruption Compliance Summit 2023, June 15-16, 2023. Shanghai, China
Please contact us for more details:
Helen Su
Tel. +86 (0)27 8788 7590
Email:
Helen.Su@Linworld-group.com
