Assess supply chain partner anti-bribery and corruption practices
The Bribery Act of 2010 is a United Kingdom (UK) law that defines and enforces the crime of bribery to ensure companies can compete on a level playing field. Section 7 of the law introduced a new offense: the failure of an organization to prevent bribery on its behalf.
The UK government provides guidance to help organizations meet the requirements in the Act. Companies that use third parties should be aware of these provisions and assess their vendors, supply chain partners and other third parties accordingly.
Prevalent helps organizations assess their third parties against multiple anti-bribery, anti-corruption and ethics requirements and provides continuous reputational, compliance and corruption insights to ensure their third parties are complying with the law.
Relevant Requirements
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Conduct third-party risk assessments to determine how a supplier’s country, sector, transactional and partnership risks impact the organization
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Perform due diligence as part of a wider governance approach to third-party risks
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Validate supplier anti-bribery practices with external verification and monitoring
Meeting Bribery Act of 2010 Requirements
Comprehensive Supplier Profile
Tap into 550,000+ sources of vendor intelligence to build a comprehensive supplier profile that includes industry and business insights and maps potentially risky 4th-party relationships.
Score Inherent Risks
Prevalent quantifies inherent risks for all suppliers to effectively tier suppliers, set appropriate levels of further diligence, and determine the scope of ongoing assessments.
Supplier Pre-Screening
Rapidly pre-screen vendors using a library of continuously updated risk profiles based on inherent/residual risk, assessment results and real-time reputational monitoring.
ABAC & Ethics Risk Assessment
Leverage Prevalent’s built-in Anti-Bribery and Ethics assessments to determine adherence to policies and identify potential areas of concern. Review and approve assessment responses to automatically register risks or reject responses and request additional input.
Financial & Investment Monitoring
Tap into financial information from a global network of 365 million businesses. Access 5 years of organizational changes and financial performance, including turnover, profit and loss, shareholder funds transparency, and more.
Supplier Reputation Monitoring
Access qualitative insights from over 550,000 public and private sources of reputational information, including negative news, regulatory and legal actions, adverse media, conflicts of interest and more.
Corruption Perception Index Scoring
Corruption Perception Index (CPI) scores of company head office countries add more business context to vendor risk analysis by delivering insights into a vendor’s viability and ethics.
State-Owned Enterprise Screening
Avoid conflicts of interest by checking companies against a proprietary list of government-owned and government-linked enterprises.
Central Risk Register
Normalize, correlate and analyze assessment results and continuous monitoring intelligence for unified reporting and remediation.
Relationship Mapping
Identify relationships between your organization and third, fourth and Nth parties to discover dependencies and risks in your extended vendor ecosystem.
Document & Evidence Management
Store and manage ABAC policy documents, evidence and more for dialog and attestation.
Built-in Remediation Guidance
Take actionable steps to reduce vendor risk with built-in remediation recommendations and guidance.
Compliance Reporting
Visualize and address compliance requirements by automatically mapping assessment results to ABAC requirements.
Risk Reporting
Identify, alert and communicate exceptions to common behavior with built-in report templates.
