Analytics Can Detect FCPA And Other Risks

Rooting out organizational risk is a major responsibility for many legal departments, and to do it they typically rely on traditional tools such as policies and procedures, risk committees, audits and task forces. These are indispensable compliance tools, but some recent cases demonstrate they can fall short.. “Today,” writes Rob Hellwell, Xerox Litigation Services, “organizations need to make use of their unprecedented access to data to detect indications of bribery and fraud in real time, before liabilities for the company arise.” E-discovery technology and various kinds of advanced analytics, can be used to create “heat maps” of activity and root out not only FCPA violations, but violations of other laws, regulations and industry standards, such as the Fair Credit Reporting Act, the HIPPA, and the PCI Data Security Standard.