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World Financial Institutions Are Focusing on Bribery

World Financial Institutions Are Focusing on Bribery

JULY 2, 2012

Caution:  World funding institutions are looking hard at bribery. This is not unexpected given the emphasis on the US FCPA, the UK Bribery Act, the OECD Conventions and the new laws being passed around the globe. The Wall Street Journal recently reported on the large Bangladesh bridge project that was stopped because of bribery allegations. The construction sector worldwide has had multiple incidents of accusations of fraud within the industry and regarding “pay to play” to acquire contracts.  Countries and Contractors need to know their agents and connections or suffer loss of funding.

Guidepost offers a range of services to ensure integrity and protect reputational loss. Having a monitor increases the likelihood that the big projects like the Bangladesh bridge would go through.

McShane_T200Thomas A. McShane is the president of investigations and monitoring at Guidepost Solutions.  He plays a key supervisory role in many of the company’s complex and high-profile cases involving organizations in various industries and sectors.  Mr. McShane spearheaded the development of the company’s Independent Monitoring Program and works with numerous governmental and quasi-governmental authorities. He has served as Counsel to the New York State Commission on Government Integrity and Chief Counsel to a successor commission, the New York State Temporary Commission on Local Government Ethics.

jaffe_jAs Chief Compliance Officer and Deputy General Counsel, Joseph Jaffe oversees regulatory compliance issues and assists with legal matters for all of Guidepost Solutions’ offices. In addition, he leads the company’s Europe, Middle East and Africa practice.


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