Blockchain – the Future of Anti-corruption

With over US$ 1 trillion paid in bribes each year, corruption is among the world’s most destructive and challenging issues. Corruption introduces uncertainties into commercial transactions, increases the cost of doing business, the cost of goods and services, and diminishes the quality of products and services, which overall erodes public trust.

Virtually every industry sector is exposed to corruption problems.

Today businesses need to comply with an increasing number of legislations: FCPA, UK Bribery Act, Loi Sapin, Law Decree 231, and many others.

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Get the best process transformation to deliver on your legal and regulatory requirements
 Align with your applicable laws and regulations
 Identify process pain points and transparency gaps
 Leverage best practices to lower the organization’s liability in the event of bribery by employees, intermediaries, etc.
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Implement blockchain for end-to-end traceability
 A single point of truth
 Who, What, When, Where and Why of every step of the process is independently verifiable
 Commit to transparency and traceability in transactions and decisional process validated by the use of blockchain
 End to end traceability of each step in a multi-partner process

We protect your business from the consequences of corruption.

We manage your compliance requirements on the blockchain to provide the appropriate measures and controls for monitoring regulated operations, decisions and financial flows.

Contact our anti-corruption practice team

Dr Carmelo Bisognano, Partner at Dybaw Advisory

Dr Carmelo Bisognano
carmelo@dybaw-advisory.com

Example Use Cases: Blockchain for anti-corruption

Identify manageable risk areas in your organization that can benefit from the blockchain

Our goal is to find efficiencies while delivering on your risk management objectives. The first key pillars of ISO37001 anti-bribery management system is to understand your organization’s context and the related risks. As such, we conduct a mapping of your policies, applicable standards and regulations in place to identify the most profitable blockchain digital transformation opportunities.

Implementing financial controls empowered by the blockchain

Implement effective controls to manage financial transactions. Record these transactions accurately, completely and in a timely manner. Leverage the blockchain on top of the organization’s legacy IT system to maintain the appropriate tiered levels of authority for the placement of orders, processing of payments and auditing.

Implementing an automated and tamper-proof due diligence on Business associates

A due diligence of your business associates is required by law for certain organizations to evaluate the scope, scale, and nature of the relationship as part of the organization’s risk management. KYC performed by the organization on business associates by using a blockchain-based solution prevents duplication and desynchronization of information that happens with multiple stakeholders and international teams.

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