Politically exposed persons are individuals who, due to their positions of power, influence, or proximity to government, are susceptible to becoming involved in corruption, bribery, or other financial crimes. And because moving and hiding misappropriated assets often involves money laundering, financial institutions across the globe are tasked with the challenge of identifying and managing these risks.

Corruption in the construction sector can include everything from fraud, to extortion, embezzlement, and other abuses. Corruption doesn’t just undermine good governance; it endangers lives and threatens the reputation of any financial institution involved in construction projects that are rife with fraud and abuse. How can government organizations and financial institutions mitigate corruption risks when funding or supporting infrastructure projects? How can they detect suspicious transactions?

Bribery and corruption represent a critical nexus where ethics, governance, and societal values intersect. These issues have long been a stain on both public and private sectors, creating distrust and distorting fair competition. International bodies and conventions typically define public sector corruption as the abuse of public office or a position of public trust for private gain. Explore a recent case study and how organizations can protect against corruption.