Kroll, a Provider of Data, Tech, Insights Related to Business Operations Risk, Shares Industry Insights

Kroll, the provider of data, technology and insights related to risk, governance and growth, today released its 2022 Anti-Bribery and Corruption Benchmarking Report, which found that 70% of survey respondents in the U.S. and Canada “ranked their anti-bribery and corruption (ABC) programs as effective, with over half indicating their compliance program will take on increased responsibility in 2022.”

The report highlights the results of a survey of 700 compliance and risk executives “to gain their perspective on the strengths, weaknesses and emerging trends within the global ABC landscape.”

ESG Considerations

The survey found that environmental, social and governance (ESG) factors “remain important, and similar to results from 2021, respondents reaffirmed that challenges to implementing ESG into ABC programs may exceed benefits for the compliance function.”

Globally, 58% of respondents strongly agree or agree that “there is an imbalance between the benefits and challenges of incorporating ESG in compliance programs.”

Despite challenges, such as “navigating limited data, a lack of standardization of metrics, transparency and regulations, and added costs, 48% of global respondents stated their firms boosted ABC programs with greater consideration for ESG compliance.”

In the U.S. and Canada, there was “a particular increase in diversity, equity and inclusion (DEI) factors, with a 13-percentage point increase in attention to DEI factors from the previous year.”

Implementing Blockchain

Twenty-four percent of global respondents “indicated that their firms were using blockchain as part of their ABC program in this year’s survey.”

An additional 29% stated that “while they aren’t using it yet, they plan to or will consider using it in the future.”

The results indicate “higher awareness and use of blockchain technology and its distributed security and validation features in compliance and risk management.”

In the U.S. and Canada, though, findings “show that firms were less likely to consider blockchain.”

Regulatory Frameworks

Important findings also “highlight the impact of the evolving regulatory landscape, with 60% of global respondents expressing concern regarding new global regulatory requirements and pending legislation.”

The regulatory horizon “may also influence an expectation for heightened compliance burdens; 70% of global respondents indicated that they expect the compliance function will generally take on increased responsibilities this year, compared to 54% in the U.S.”

Despite the regulatory horizon, the survey found that “the majority of organizations feel prepared for new anticipated responsibilities.”

In the U.S. and Canada, 69% of respondents “believe the types of ABC risks they will encounter will stay the same in 2022 compared to 2021, with cyber security and data breaches remaining the leading cause of risks.”

In the U.S., anti-corruption developments that are top of mind for compliance professionals primarily “center around the United States Strategy on Countering Corruption issued by the Biden administration in December 2021, and interagency reviews from this strategy are ongoing and starting to materialize.”

John Arvanitis, Managing Director in the Compliance Risk and Diligence practice of Kroll, said:

“In 2022, we will certainly see heightened regulatory complexity for compliance professionals, who must be prepared for the unknown. We expect to see corruption risks and global regulations diversify in response to emerging issues, as we have already seen through supply chain bottlenecks, economic turbulence and geopolitical stresses this year.”

Arvanitis continued:

“The findings from our survey also point to an uneven geographic adoption of distribution ledger technology in anti-bribery and corruption (ABC) programs, as well as the continued strong adoption of ESG in ABC programs across the world, though ESG priorities vary across regions. Globally, we are seeing that regulatory frameworks are driving the systemic adoption of due diligence into ABC programs, and we expect this trend to continue throughout 2022.”


Kroll commissioned a survey of 700 executives earlier this year “to gain their insights into the state of ABC programs worldwide for the 11th consecutive year.”

For the first time, 14 countries “were represented in the survey with 50 participants from each country.”

As covered, Kroll is focused on “providing proprietary data, technology and insights to help our clients stay ahead of complex demands related to risk, governance and growth.”

Their solutions “deliver a powerful competitive advantage, enabling faster, smarter and more sustainable decisions.”

With 5,000 experts around the world, they “create value and impact for our clients and communities.”

Sponsored Links by DQ Promote



Send this to a friend