Article length: 654 words
Compliance plays growing role in high-risk areas
The drive to discover and exploit resources in high-risk jurisdictions such as those in most African countries has obliged international oil and oil services companies to adopt ever more sophisticated compliance systems. The cost to a company of responding to a US Department of Justice (DOJ) investigation into an alleged breach of the Foreign Corrupt Practices Act (FCPA) has recently been estimated at £275,000 per day over two to three years. Yet in spite of the harsh penalties for companies that get it wrong, the appetite for such risks remains undiminished. Meanwhile, the DOJ is responding to the increasingly globalised nature of its role by building relationships with its counterparts around the world.
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