Lexis Diligence Adds Content to Help Companies Comply with UK Bribery Act 2010
Latest additions to online due diligence service include Russian news content
LONDON, 16 November 2011 – LexisNexis UK (www.lexisnexis.co.uk), a leading provider of content and technology solutions, today announced the latest release of Lexis® Diligence, an online due diligence service that provides companies with access to the intelligence needed to vet existing and prospective third party partners under the requirements of the UK Bribery Act 2010.
Lexis Diligence helps corporate security and anti-money laundering teams perform due diligence checks in support of third-party, customer and employee investigations. Core elements of the product include an intuitive search across multiple databases that delivers accurate and relevant matches against a database of global news, company reports, legal cases, international sanctions and PEP lists. Crucial results can be saved and printed along with audit data to support adequate procedures and help companies comply with the UK Bribery Act 2010.
Companies need to safeguard against bribery and corruption committed by third-parties such as suppliers, contractors and other agents acting on their behalf under the UK Bribery Act 2010. A company must be able to demonstrate it has adequate procedures in place to prevent bribery, which is why the Ministry of Justice recommends performing effective due diligence on third-party relationships in its principles-based guidance for bribery prevention. Often, this means companies need to research entities in emerging markets and other jurisdictions deemed a higher risk.
“The recent Transparency International 2011 Bribe Payers Index highlights companies from Russia as those most likely to pay bribes abroad. In response to customer requirements, we’ve added further Russian news sources into Lexis Diligence to complement existing Russian company data to help our clients verify third parties and perform efficient and cost-effective reputation checks in house,” said Mark Dunn, Market Planning manager at LexisNexis UK.
For more than 35 years, LexisNexis has helped organisations around the world perform fast, cost-effective due diligence. More information about Lexis Diligence is available at www.lexisnexis.co.uk/risk.
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LexisNexis Legal & Professional (www.lexisnexis.com) is a leading global provider of content and technology solutions that enable professionals in legal, corporate, tax, government, academic and non-profit organizations to make informed decisions and achieve better business outcomes. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. Today, LexisNexis Legal & Professional harnesses leading-edge technology and world-class content, to help professionals work in faster, easier and more effective ways. Through close collaboration with its customers, the company ensures organisations can leverage its solutions to reduce risk, improve productivity, increase profitability and grow their business. Part of Reed Elsevier, LexisNexis Legal & Professional serves customers in more than 100 countries with 10,000 employees worldwide.
In the UK, LexisNexis (www.lexisnexis.co.uk) online legal solutions include: Lexis®PSL, Lexis®Check and Lexis®Library – named Online Product of the Year at the Legal Technology Awards. Published resources include both Butterworths® and Tolley™. LexisNexis provides the most comprehensive source of legal and tax commentary in the UK.
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