Anti-Money Laundering and Corporate Compliance
<p id="p1">In the past two decades, companies have invested significant resources in implementing corporate compliance programs to ensure adherence to legal, regulatory, and internal requirements. Compliance involves formal rules and self-organizing methods to reduce business risks, influenced by va...
Guardado en:
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| Formato: | Capítulo de libro |
| Lenguaje: | inglés |
| Publicado: |
IntechOpen
2024
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| Materias: | |
| Acceso en línea: | https://www.intechopen.com/chapters/89157 |
| Etiquetas: |
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| Sumario: | <p id="p1">In the past two decades, companies have invested significant resources in implementing corporate compliance programs to ensure adherence to legal, regulatory, and internal requirements. Compliance involves formal rules and self-organizing methods to reduce business risks, influenced by various laws globally. In Italy, legislations like D.lgs. 231/2001, 231/2007, D.lgs. 101/2016 (GDPR), and Law No. 190/2012 have shaped organizational models. Companies adopt internal management systems, and compliance models aid in identifying, measuring, and managing key risks. However, the complexity of regulations has led to disorganized business models and a gap between adopted structures and actual compliance. The concept of a ‘Compliance Organizational Model’ is proposed, aiming for a unified approach that combines economic, legal, and regulatory forces. The rise of compliance models was driven by regulatory pressures, but their fall is attributed to over-regulation, unclear reasons for unethical behavior, and an ineffective legislative response. The metaphor of Mandeville’s ‘Fable of the Bees’ illustrates societal decay, questioning the compatibility of wealth and virtue. Learning from past mistakes is crucial for continuous improvement. While compliance models initially received positive responses, their success now faces challenges. Companies recognize the value in corporate governance improvement, but repeated criminal acts and temporary legislative solutions have led to a decline in their effectiveness. The responsibility of compliance models is to ensure proper behavior, but the need for a more comprehensive and standardized approach persists.</p> |
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| ISBN: | 978-0-85014-495-6 |
| DOI: | 10.5772/intechopen.114226 |