Article
The Challenges of Balancing Compliance and Growth
Article
The Challenges of Balancing Compliance and Growth
August 20, 2013
Reprinted with permission from ALM.
In late July, authorities in China accused U.K.-based drug maker GlaxoSmithKline of paying $500 million in bribes to government officials, hospitals, and others through a maze of 700 travel agencies. Closer to home, media reported that Wal-Mart Stores Inc.’s investigation into its Mexico bribery scandal cost the company $240 million in the 12 months since the initial allegations of $24 million in bribes. In-house legal and compliance teams in multinational corporations know all too well that bribery is not only ethically wrong—it’s bad for business.