Recently, the 3rd Annual Legal Compliance Practice Hot Spot Forum of lCouncil was successfully held in Shanghai. As an annual legal event, this conference invited nearly 50 corporate law directors, chief compliance officers, risk control officers and partners of well-known law firms in benchmarking industries to gather together to jointly develop a new direction of compliance. INTSIG was invited to attend the event with its internal control and compliance solutions, providing a more efficient upgrade path and a richer practical perspective for corporate compliance governance.
In recent years, with the changes in the business environment and the increase of business risks, the compliance needs of enterprises have become increasingly prominent, covering anti-corruption, anti-bribery, ESG, intellectual property, anti-monopoly, anti-unfair competition, **chain, anti-fraud and other aspects. Businesses need to strictly fulfill their legal and ethical responsibilities while protecting their own interests.
However, there are still some challenges in the compliance management process. First of all, the scope of supervision continues to expand, and the scope of compliance business continues to increase, making it difficult for enterprises to fully cover. Second, although companies regularly conduct internal training and promotion of rules and regulations, how to ensure that these rules are actually implemented is still a problem. In addition, when doing business with new partners, companies need to obtain and process information from multiple sources, which is inefficient and error-prone. More importantly, due to the lag of risk information, it is difficult for enterprises to avoid risks in advance, resulting in possible losses.
In order to solve the above problems, INTSIG has launched an enterprise internal control compliance program. The solution is based on the INTSIG data platform and brings together 2300 million enterprises and other organizations, more than 100 billion real-time dynamic business big data, more than 1,000 data dimensions and customer internal data. Through this solution, enterprises can easily carry out compliance risk screening to meet various internal control compliance needs such as anti-commercial bribery, anti-monopoly, centralized procurement compliance, prevention of loss of state-owned assets, and anti-money laundering.
Taking a large national comprehensive ** company as an example, in the scenario of related party transactions, the brokerage investment bank needs to check the relationship between "issuers, related parties, ** businessmen, and customers" to prevent potential related party transactions. However, due to the large number of subjects involved and the complexity of audit dimensions, the traditional manual investigation method of the investment banking department is not only inefficient, but also easy to miss hidden relationships.
With the help of Qixin Insight's centralized investigation function, the customer can add a list in batches, check the affiliation between 1,000 enterprises at a time, quickly identify the equity relationship between the issuer and its related parties, historical holding and shareholding information, historical employment information and other suspected relationships, and keep all the historical changes, regulatory penalties, illegal and litigation-related information of the issuer and its related parties on file, so as to help the counseling institution obtain more accurate and complete information.
Through the cooperation with Qixin Insight, enterprises can not only improve their own compliance management capabilities, but also cultivate a corporate atmosphere that pays attention to compliance culture in the process. This culture will penetrate into every corner of the enterprise and become the common value pursuit and code of conduct of the employees.
Looking ahead, compliance management will become an important driving force for the sustainable development of enterprises. INTSIG's internal control and compliance solution will keep pace with the times, innovate and improve, and provide enterprises with more comprehensive, efficient and intelligent compliance risk management support.