The tale of the NatWest Three should be a wake-up call to business
Companies, and indeed anyone with risk management responsibilities, must consider all the potential regulatory and reputational risks associated with fraud. This includes the regulatory pressures imposed by international requirements.
The widening and deepening reach of the US regulators into other jurisdictions is putting added pressure on local governments to increase their diligence, legislation and enforcement regimes.
The US regulators remain active, enforcing regulations across borders, specifically focusing on compliance with the Foreign Corrupt Practices Act (FCPA) and the anti-terrorism clauses of the Patriot Act.
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