Again, yet another Anti-Bribery & Corruption case

When I read this article, the first thought that came to mind was, “when will bankers ever learn?” Since more than two decades ago, some enterprises hopped onto the ‘Learning Organisation’ bandwagon and hoping to find a panacea to attaining a highly energized workforce and ‘top class’ organization culture that reinforces the desired culture continuously. Theoretically, a highly-driven organization should emerge. But have we applied the Learning Organisation concept to financial institutions; where financial crime risk management is concerned?

Article:-

https://www.businessinsider.com/r-swiss-regulator-raps-credit-suisse-for-anti-corruption-failings-2018-9/?IR=T

A few things pop-up at this very juncture as I am writing this: -

• Maybe, a true Learning Organisation is far and few. We are talking about people with vast diversity and not everyone upholds the same values. Hands-to-heart, surely, we know of people who agree on the surface but disagree at their very core.

• A life cycle. Constant hammering does not necessarily make people comply. In fact, psychologically, it alienates people and the paradox is, people are tempted to circumvent and/or not comply out-of-spite. People who believe in the good old controls are, overtime, surrounded with new entrants who hold different views of controls and best practices.

• People really don’t learn too well and this is why history repeats itself.

Last but not least, don’t ignore Anti-Bribery Corruption risks. They are not the new kid on the block. The risks are very real!