Abstract
This section will introduce the reader to the challenges of corruption that any corporation is subject to but especially those that operate internationally, where distance from the Centre and differing societal cultures add to the problem. The issue is aggravated by the increasing pressure to perform by staff in operational and client-facing roles.
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Notes
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Prahalad, C. The Fortune at the Bottom of the Pyramid.
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This insight emerged from a conversation with the late Dr. Antonio Mercader, Secretary of State for Education & Culture in Uruguay. Interestingly, Uruguay has no specific Ministry for Justice, but its functions come under the Ministry for Education & Culture. To have these three functions under one umbrella makes sense: What could have more impact on societal culture than education and the law of the land?
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By Regtech is meant the application of disruptive new technologies such as machine learning, distributed ledgers, business analytics to assisting banks meet their regulation compliance. Rather than the banks developing or buying these technology solutions, they normally outsource these services to smaller entrepreneurial companies that develop them.
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Griffiths, P.D.R. (2021). Challenges to Local Governance in International Business: The Risks of Corruption. In: Corporate Governance in the Knowledge Economy. Palgrave Studies in Accounting and Finance Practice. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-78873-5_5
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