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Category: Best Governance, Risk & Compliance Information Solution

Category: Best Governance, Risk & Compliance Information Solution. Case Study – Equatorial Guinea Huge oil wealth - country has the 2 nd highest per capita income in the world More than 20% of children in Equatorial Guinea die before the age of six with life expectancy of just 50 years

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Category: Best Governance, Risk & Compliance Information Solution

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  1. Category: Best Governance, Risk & Compliance Information Solution

  2. Case Study – Equatorial Guinea Huge oil wealth - country has the 2nd highest per capita income in the world More than 20% of children in Equatorial Guinea die before the age of six with life expectancy of just 50 years 75% of its 500,000 citizens live on less than two dollars a day, without access to healthcare, education, or running water Corruption – The Big Picture

  3. Corruption – The Big Picture Thanks to bribes from big business, life for the powerful and their family and friends in Equatorial Guinea is very different. The picture above is Teodorin Obiang, Equatorial Guinea’s Minister of Agriculture, and son of the President, posing in front of one of his luxury homes. In addition to a number of luxury homes, Mr Obiang amassed an impressive collection of sports cars and wardrobes full of designer clothes. All this on an annual salary of around USD 80k. Sources: The Secret Life of a Shopaholic, Global Witness Report, November 2009 TeodorinObiang’s Net Worth 2011, The Richest People, March 2011

  4. Two Sides of the Story Bribe Takers Bribe Givers In recent years focus has moved to the bribe payers and making the payment of bribes illegal. The development of anti-corruption solutions has therefore been a natural progression for Dow Jones Risk & Compliance. Dow Jones Risk & Compliance has a decade of experience in providing anti-money laundering solutions that make it harder for corrupt government officials to access and enjoy their illicit assets.

  5. How Dow Jones Risk & Compliance Helps Our Anti-Corruption Portal allows companies to: • Quickly and cost-effectively identify regulatory, business or reputation riskbefore entering into new relationships • Be proactively alerted to new and emerging risks within existing third-party relationships • Implement best-practice compliance procedureswithout dramatically increasing compliance workload

  6. How Dow Jones Anti-Corruption Portal Helps Assess potential corruption risk Customers can cross reference third party relationships with a global list of high-risk individuals and entities compiled by highly experienced Dow Jones researchers using legally obtained, publicly available information. Names in screenshots have been obscured for privacy.

  7. How Dow Jones Anti-Corruption Portal Helps Evaluate risky relationships Detailed profiles compiled by our highly-skilled research team make it easy to evaluaterelationships that present a potential corruption risk.

  8. How Dow Jones Anti-Corruption Portal Helps Comprehensively investigate high-risk third parties Higher risk third parties can be further investigated using global media from Factiva. Where still more detail is required Dow Jones Due Diligence reports can be ordered and managed directly within the Portal environment.

  9. Summary • With encouragement from civil society, the fight against corruption is being fought in partnership between the public and private sectors. We are proud to play our part at Dow Jones • The momentum is building and time may be running out for the kleptocrats and their lavish lifestyles • Postscript... • In the last month Mr Obiang’s supercar collection was seized from his apartment garage in Paris • The US authorities also seized his Malibu mansion and other valuables, including a Michael Jackson glove • Proof that bribery and corruption will no longer be tolerated More information: http://www.dowjones.com/collateral/files/dj-anti-corruption-portfolio-brochure.pdf Source: Corruption Currents -http://blogs.wsj.com/corruption-currents

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