Linworld's 11th Asia Anti-Corruption Compliance Summit 2023
Linworld Group successfully held 11th Asia Anti-Corruption Compliance Summit 2023, November 16-17, 2023. Crowne Plaza Bangkok Lumpini Park, Bangkok, Thailand. During the two days event, over 30 top speakers from DOJ, Siemens, Beam Suntory, HP, ABB, Coca-Cola, EY, KPMG, PwC, Deloitte, Pinsent Masons, Baker McKenzie, Steptoe & Johnson, Sanofi, Adecco, Trace International, HSBC, DFDL, Styker, Pfizer, Ericsson, GSK, Kroll, SC, BNY Mellon, Tyson Foods, etc., gave their practical insights in how to enforce your compliance systems when bribery schemes was getting more and more sophisticated. Hundreds of participants from Singapore, Malaysia, India, Indonesia, Philippine, Greater China, Thailand, Europe, and US discussing the latest developments, challenges and cases regarding the anti-corruption and compliance field. Many of them provided positive feedback to this event and expect to attend next one so that they can get another chance to learn about China-US and ASEAN policy updates, recent FCPA enforcement, best compliance practices, first-hand experiences, third-party due diligence, risk control management strategies. new technology to fight corruption, General Data Protection Regulation, the Data Security Law, and Personal Information Protection Law, etc.
With countries beginning to open their borders completely, and corporates revitalising expansion efforts or diversifying their supply chains into growth markets across Southeast Asia, such as Indonesia, Malaysia and Vietnam, corruption and other compliance risks are constantly increasing. Lawyers say that companies need to step up their vigilance by conducting meaningful assessments of risks, and implementing appropriate controls that address the risks unique to the specific jurisdiction. Southeast Asia has long been recognised as a region that poses significant risks and challenges for businesses regarding anti-bribery compliance. In that case, the establishment of well-organized compliance systems became a top priority to local and multinational companies operating in ASEAN and India. Within that context, ACC BKK came up to promoting the developments of anti-corruption corporates compliance systems in Asia.
This event mainly consisted of below five parts.
Part One: Deep interpretation of multi-jurisdictional anti-corruption laws and anti-money laundering laws. Speakers from DOJ, Kroll, DFDL, BNY Mellon, and Baker McKenzie went deeply into the World Bank anti-bribery framework, FCPA, UKBA, Anti Bribery Laws in ASEAN countries, Data Protection Regulatory Framework, Anti-sanction Law, Anti-Money Laundering Law and enforcement trends by policy updates and practical case.
Part Two: Data Privacy and Protection: Organizations must develop solid data security policies and practices to help prevent serious incidents including data security breaches involving customers and employees. GSK and Withers KhattarWong co-presented “Cross Border Privacy Consideration When Conducting an Investigation”, “Data Protection Regulatory Framework & Steps to Data Compliance” was presented by PwC, Having robust data privacy policies and practices also helps avoid potential lawsuits and regulatory investigations involving data security. It also provides significant reputational benefits if an organization can avoid data security incidents.
Part Three: Firsthand experiences from industry leaders. The risk management mechanism from Ericsson, Compliance Digitalization Practice & Thinking from EY, Best practices in third party diligence from Siemens, Corporate Internal Control and Investigation from HP, How to Proactively Identify Compliance Weak Spots When Operating in India from Stryker, all these topics provide attendees best examples and guidences on their road of building a better complaince systems.
Part Four: Culture of compliance journey, industry veterans from Sanofi, ABB, Medtronic, Coca-Cola, Olam, Adecco, Wong & Partners, 3M shared their experience in how to create a culture of compliance enables management and employees at all levels to confidently do the right thing and empower them to speak up if they notice any non-compliance or risky behaviour. The ability to create and nurture a culture of compliance within an organization is a critical element for business success. Compliance is not merely about avoiding penalties and sanctions; it's about embedding ethical behavior in the daily operations of a company.
Part Five: How to use new technology to help fight corruption and other risks. In this section, in-house counsel from Beam Suntory, HSBC, Tyson Foods, top lawyers from Reed Smith, Pinsent Masons, and leading experts from Ernst & Young, PwC, KPMG, and Deloitte, sat together to discuss how to use ISO37301 and latest technology such as AI, machine learning, big data, dashboard, Chatgpt to help fight corruption and how to deal with Cybersecurity Law.
Although the two-day’s 11th Asia Anti-Corruption Compliance Summit 2023 is closed, however the discussion of the above-mentioned topics is 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, HR and risk control professionals across all industries around the world will benefit a lot after attending our summit.
