Just as the COVID-19 pandemic brought many anticorruption compliance challenges, so too will the recovery from it. Workplaces have been altered by the events of 2020, giving corporate compliance departments much to adapt to, and there is still more to come.
As projects that were deferred during the shutdowns come back online, managers and officials will feel pressure to make up for lost time, creating incentives to cut corners, and opening doors to unscrupulous third parties and corrupt government actors. Where post-pandemic activity is ramping up quickly, the lack of key people to execute compliance programs heightens the risk of corruption. Companies will need experienced compliance staff to onboard the new wave of third parties who will have to be hired or rehired as business resumes.
Compliance departments that take the time to think through how they will revise and redesign the necessary elements of their programs stand the best odds of emerging from the post-pandemic transition more agile and effective than before. Download our analysis for insights on key actions compliance leaders can take.