Singapore probing complex transactions involving 'many shell companies'

"SINGAPORE authorities are probing "complex and layered transactions" with "cross border elements" involving many shell companies...it is widely accepted that the case involves the probe into the money trail of Malaysia's troubled state-backed firm."

Article Link: "Singapore probing complex transactions involving 'many shell companies' in 1MDB case"

Source Credit: The Business Times

ISO 37001 Anti-bribery Management Systems - Gets Vote of Approval

On April 14, 2016 the International Organization for Standardization (ISO) announced the draft version of the new ISO 37001 Anti-Bribery Management Systems (ABMS) standard received a 91% vote of confidence. 

The ABMS "is designed to help organizations implement effective measures to prevent and address bribery, and instill a culture of honesty, transparency and integrity."   

The standard is intended to be used by small to large public, private, or voluntary sector companies.  The ABMS standard includes a few basic principles such as:

• Adopting an anti-bribery policy
• Appointing a person to oversee anti-bribery compliance
• Training
• Risk assessments and due diligence on projects and business associates
• Implementing financial and commercial controls
• Instituting reporting and investigation procedures

The standard is expected to be published in late 2016.

Key Links:

• Purchase the draft version of the ISO 37001 standard in the ISO Store
• ISO 37001 ABMS