The Challenges of Balancing Compliance and Growth

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.