As the global imprint of companies rapidly expands, there is an increasing awareness for companies that conducting background screening of independent contractors, suppliers and trading partners on an international level is a critical component of risk management.
However, international supplier screening presents many complex challenges for organizations to address in implementing programs that must take into account the many variables of laws, regulations, cultures and access to data and privacy regulations in locations worldwide.
GRMS provides customized global supplier screening solutions to ensure companies know who their foreign trading partners are and meet compliance regulations no matter where in the world they are operating.
GRMS has access to data, including many governmental watch lists, in over 120 countries to provide companies with crucial information before they enter into contracts that could result in financial losses or reputational damage.
FCPA Compliance Screening
As more U.S. companies are conducting business globally, their companies and officers are exposed to increased scrutiny and enforcement actions related to The Foreign Corrupt Practices Act of 1977 (FCPA). Any U.S. company that conducts business in foreign markets must be familiar with the FCPA in order to avoid substantial liability and fines as well as civil and criminal prosecution.
Many companies are directly or indirectly in foreign business such as using third-party foreign sales agents, operating foreign facilities, importing or exporting goods and outsourcing services.
Penalties for FCPA violations are severe for both the company and its officers. Violations may include the loss of export licenses, suspension from conducting business with the U.S. government as well as shareholder lawsuits and long-term reputational damage.
GRMS’ FCPA screening solution includes the necessary screening of foreign business partners and due diligence to assist with your FCPA legal and compliance obligations at no cost to your company.