The U.S. Justice Department has recently provided a Foreign Corrupt Practices Act (FCPA) Guide that highlights the importance of assessing risk for developing a strong compliance program. Kreller Online (KOL), a new online service provided by the Kreller Group, addresses this need for strong due diligence by automatically assigning a detailed risk score to national and international entities.
“A recent breakthrough decision was made by both the Department of Justice (DOJ) and the U.S. Securities and Exchange Commission (SEC) stating that companies can now avoid FCPA prosecution by instituting an effective, functioning compliance program,” said John Twomey, Vice President of Kreller Group. “Routine FCPA Due Diligence is a critical component in maintaining a FCPA compliance program – but the compliance program needs to be more than a mere anti-corruption “check.”
The assigned KOL Risk Score helps organizations determine how much investigation a given entity may require. This risk score is calculated by essential criteria such as location, sales volume, government exposure or affiliation, and line of business. With this risk score on hand an organization can identify resources necessary for an investigation and maximize their compliance budget.
KOL is a web-based, highly secure portal that helps organizations manage third-party information, keeping all of the data in one convenient place. The service is capable of handling millions of records with multiple attachments and has fully customizable fields with no constraints to the number of users, records or attachment sizes.
“We are excited about the new KOL system—especially its ability to score risk on potential agents for our clients. Feedback has been overwhelmingly positive,” says Josh Logan, Director of Kreller Due Diligence Investigations. “My clients are telling me that they haven’t seen anything quite like this before. We’re proud to create another sharp tool in the FCPA compliance ‘toolbox’ that will help our clients establish strong compliance programs.”
Another goal of the new cyber service is to help organizations manage their information in a secure, clear, manageable way. KOL can be accessed from anywhere at any time of the day to best suit the needs of the organization.
“A crucial aspect of Kreller Online is security. Teams of technicians monitor the servers, physically stored at a secure web hosting company,” adds Twomey, “The quality assurance programs and cybersecurity technicians serve to maximize efficiency and eliminate risk.”
Running reports and sending questionnaires is a simplified process with KOL. Data can be auto-generated and downloaded into a report or spreadsheet quickly and effectively. KOL provides users with extensive documentation from questionnaires while giving an organization the advantage to check the veracity and substance of answers.
In addition to implementing the KOL service, the Kreller Group provides training to organizations to better utilize the service to their full benefit. This training will help organizations streamline their information processing, lower costs and allow more efficient management of that information.
About the Kreller Group:
The Kreller Group has provided due diligence, investigations and business credit report services worldwide since 1988. They have conducted services in more than 180 companies and serve a client base that includes many Fortune 100 companies and government agencies. The Kreller team is comprised of investigators and analysts with experience in federal, state and local law enforcement. For more information about the Kreller Group and KOL visit www.kreller.com.