Barriers to Corporate Compliance
Barriers to Corporate Compliance
This chapter offers detailed analysis of some of the barriers to compliance, issues that have to be specifically addressed by compliance functions during compliance audits. The focus develops to consider deficiencies in compliance functions, the methodologies employed to address them, and compliance deterioration by social disorganization in terms of corporate resistance, misinterpretation, non-observance, or simple lack of social control. Analysis includes an examination of two challenging barrier areas: firstly, the “heroic” status of the Chief Executive—in terms of perceptions and projections of untouchability by those at the top of corporations, and secondly; inter-bank cooperation challenges—to include analysis of cooperative frameworks with regard to compliance clarity in anti-money laundering and counter-terrorist financing cases, such as Finterai, FATF, and the EBA.
75-101
Hamerton, Christopher
49e79eba-521a-4bea-ae10-af7f2f852210
Gottschalk, Petter
1ee888b0-7e8a-447c-b40f-7189aefede6f
1 November 2022
Hamerton, Christopher
49e79eba-521a-4bea-ae10-af7f2f852210
Gottschalk, Petter
1ee888b0-7e8a-447c-b40f-7189aefede6f
Hamerton, Christopher and Gottschalk, Petter
(2022)
Barriers to Corporate Compliance.
In,
Corporate Compliance: Crime, Convenience and Control.
1 ed.
London.
Palgrave Macmillan, .
(doi:10.1007/978-3-031-16123-0_5).
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Book Section
Abstract
This chapter offers detailed analysis of some of the barriers to compliance, issues that have to be specifically addressed by compliance functions during compliance audits. The focus develops to consider deficiencies in compliance functions, the methodologies employed to address them, and compliance deterioration by social disorganization in terms of corporate resistance, misinterpretation, non-observance, or simple lack of social control. Analysis includes an examination of two challenging barrier areas: firstly, the “heroic” status of the Chief Executive—in terms of perceptions and projections of untouchability by those at the top of corporations, and secondly; inter-bank cooperation challenges—to include analysis of cooperative frameworks with regard to compliance clarity in anti-money laundering and counter-terrorist financing cases, such as Finterai, FATF, and the EBA.
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Published date: 1 November 2022
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Local EPrints ID: 476433
URI: http://eprints.soton.ac.uk/id/eprint/476433
PURE UUID: 98fa3fa1-5403-40ba-8bbc-6fe7f71da295
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Date deposited: 21 Apr 2023 12:04
Last modified: 17 Mar 2024 03:52
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Author:
Petter Gottschalk
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