Technology, Social Media & Compliance. Now Working In Parallel

Technology, Social Media & Compliance. Now Working In Parallel

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#SocialMedia is playing a big role in #anticorruption compliance and its only going to grow @sourceintel

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Thursday, April 23, 2015 - 3:20pm

CONTENT: Article

With the emergence of this new concept in the compliance industry known as compliance 2.0, the idea that technology is assisting the compliance professional is very much leaping forward with all new types of innovative ways to help combat corruption and bribery. Many foreign governments are increasingly adopting this new form of thinking, as it has been a way to reach many on topics such as anti-corruption and anti-bribery. As companies rely on 3rd party software for risk management and anti-corruption compliance, government agencies are looking at open sourced platforms to disseminate compliance content and gather information on possible acts of corruption. The Economic Times have released an article, about the Haryana Vigilance Bureau in India, and how they are utilizing and leveraging social media platforms, such as Facebook and Twitter, to gather information on potentially corrupt government officials.

“The State Vigilance Bureau today launched a new anti-corruption helpline on social networking websites Facebook, Twitter along with WhatsApp where people can send complaints about government officials who ask for bribe or harass them. This anti-corruption helpline on the social media is in addition to existing helpline numbers”

Using these platforms presents an interesting new dynamic to combating corruption in public and private sectors, as it is pooling from public sources for gathering information and enabling itself to become an interactive “whistle blower line.” As companies find new and innovative ways to become compliant, platforms such as social media only open more communicative channels to get information across. What is exciting is seeing how agencies are leveraging open sourced technology and mingling in 3rd party cloud based services as well.

Technology is enabling and opening new channels in the compliance space and it will only grow now that sources like social media will be implemented in anti-corruption and anti-bribery initiatives. These tools will only become more potent in the fight against corruption and the concept of compliance 2.0 will keep evolving. Here is how technology and the concept of compliance 2.0 can help with any sector and their anti-corruption and anti-bribery compliance efforts.