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Foreign Corrupt Practices Act and Office of Foreign Assets Control

 

Stop Bribery Schemes and Prevent Violations of Anti-Corruption Laws in FCPA and OFAC.

Transforming... 

 Anti-Bribery and Corruption Monitoring

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Your anti-bribery, anti-corruption compliance program may have the basics covered – training programs, hotlines, and vendor credentialing. But data silos and manual processes create risk where expense fraud and risks associated with accounts payable fraud can fall through the cracks. You need a fraud prevention solution that acts as your artificial intelligence in finance providing an automated approach to operationalize compliance with FCPA.

Oversight provides a centralized transaction monitoring system that uses data analytics to automatically identify transactions that could trigger FCPA violations. With continuous monitoring, our analytics look for behaviors or patterns of FCPA risk across expense reports and card transactions in T&E, or invoices and payments in accounts payable, and facilitates efficient resolution of any issues.

The library of FCPA analytics looks across multiple dimensions including employees, attendees, vendors, and countries over an extended horizon. This can pinpoint employees exhibiting patterns of potentially improper behavior or collusion that are difficult to detect in traditional FCPA monitoring and travel and expense audit approaches.

FCPA Compliance for Expense Reporting and Accounts Payable

 

Oversight is able to identify high-risk transactions in T&E and accounts payable based on factors including the employee, the attendees, the merchant, the vendor, and the country where the transaction occurred. Oversight then combs through business expense transactions for FCPA-specific keywords such as ministry, facilitation fee, consulting fee, and other suspicious terms. Multiple languages are also included in our FCPA keyword analysis. 

Within accounts payable, Oversight evaluates the type of transaction, the vendor, and the country where the transaction occurred using the Corruption Perception Index, PEP lists, and FCPA-specific keywords. Based on political exposure, Oversight also identifies voucher outliers, unusual vouchers or payments, split invoices, and high-risk vendors.  

Oversight maintains a permanent, tamper-proof audit log that automatically documents the steps taken to resolve issues. This ensures you can effectively address anti-bribery and corruption risks.  

 

 

Oversight & Concur Strengthen Financial Controls for American Bureau of Shipping 

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"You are essentially flying blind if you do not have a tool like Oversight because Oversight can analyze data in a way that the human eye cannot. I'd rather have Oversight than an army of people trying to do the analysis."

- Jon Feiwell, Director of Financial Process & Quality Improvement, American Bureau of Shipping