Streamlined Assessment of Bribery and Corruption Risks

Kroll releases 3rd Party Risk Assessor tool to help clients prioritize due diligence efforts.

Risk management advisory firm Kroll has launched a new tool that helps cost-effectively assess the risks of bribery and corruption that a client company faces in its business relationships. Called the 3rd Party Risk Assessor, the tool incorporates data on up to 10 attributes of a third-party organization and its interactions with the Kroll client:

  • country of operation,
  • country of payment,
  • length of the relationship,
  • nature of the relationship,
  • criticality of the relationship,
  • government involvement,
  • level of oversight that the client has over the third party,
  • industry of the third party,
  • length of time it’s been in business, and
  • annual revenue.

For some of these attributes, Kroll gathers information from its client; for others, it uses information collected in a proprietary database. The tool combines data from both sources, then calculates the third party’s risk of bribery and corruption.

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