After the launch of the 2014 Arachnys Open Data Compass Jaclyn Jaeger, Assistant Editor of Compliance Week magazine, wrote an in-depth review of our research. As part of her piece she also spoke to Arachnys CEO David Buxton. The Arachnys Open Data Compass measures the availability of open corporate, litigation and media information worldwide.
The article looked at how US companies can be at risk of FCPA violations and how open data can be crucial in the decision making process for US companies looking to do business overseas.
Speaking about the challenges facing businesses David said: “One major way of containing corruption risks is by doing due diligence on your counter-parties. The simplest, most cost-effective way to do that is to verify the ownership of the third parties with which you’re doing business; check that they’re not engaged in excessive amounts of litigation; and verify that they’re not associated with government officials. But getting access to that information can be difficult in many countries, or the information can be unreliable.”
The report also cites further Arachnys Compass commentary from organisations including Chatham House and Global Witness plus the Arachnys in-house research team.