Financial Crime World

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Compliance Risk Management in Croatia: A Key Factor for Attracting Foreign Investments

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The Croatian Chamber of Compliance and Anti-Corruption (ICCrA) has launched a campaign to raise awareness about compliance, a practice that has been widely used globally as an effective mechanism to enhance legal security, particularly in the business sector. This has led to a growing need for a unified legislative framework for all economic entities.

The Importance of Compliance

Compliance is essential for promoting transparency and accountability in business operations. It helps to prevent corruption and ensure fair play, which is crucial for attracting foreign investments and promoting economic growth in Croatia.

WRAP - Whistleblowing Reporting Application Platform

Dražen Mrkonjić, owner and director of start-up company qSoft d.o.o., spoke about the first Croatian platform for reporting irregularities called WRAP-Whistleblowing Reporting Application Platform. The platform aims to promote transparency and accountability in business operations.

ICCrA Institute Initiatives

The ICCrA Institute has launched several initiatives focused on criminal compliance and ISO 37001 (Anti-Bribery Management). In April, the institute hosted its fourth annual conference on Criminal Compliance-ISO 37001, where experts presented the Croatian Compliance Guidelines. The guidelines were developed by a working group led by the ICCrA Institute.

Key Takeaways from the Conference

  • The importance of implementing compliance programs and COs (Compliance Officers) in businesses to ensure fair play and prevent corruption.
  • The need for a unified legislative framework for all economic entities.
  • The role of Compliance Officers in promoting transparency and accountability in business operations.

Training Programs for Compliance Officers

The ICCrA Institute has launched a series of training programs for Compliance Officers, aimed at strengthening their skills and competencies in implementing compliance policies. The training programs cover topics such as:

  • Anti-corruption strategies
  • Risk management
  • Ethics in business operations

Benefits of Compliance Programs

Implementing compliance programs and COs can help prevent corruption and promote fair play in the business sector. This is crucial for attracting foreign investments and promoting economic growth in Croatia.

Conclusion

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The ICCrA Institute believes that compliance is essential for promoting transparency and accountability in business operations. The institute aims to educate the public about the importance of compliance as an instrument and guarantee for orderly business operations, and promote a culture of transparency and accountability among businesses and government institutions.