Page 41 - CORRUPTION LATAM

MoNTT GRoup MaGaziNE - 2024
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entities involved in crimes, including higher fines, suspension of activities and, in serious cases, dissolution of the company; in addition to clarifying the administrative sanctioning procedure, establishing clear stages from the initiation of the procedure to the final resolution, ensuring that investigations are carried out quickly and fairly.
c) Promote a Culture of Compliance and Business ethics: The law not only seeks to sanction improper conduct, but also promote a culture of compliance and ethics within organizations, which is achieved through the establishment of Compliance Programs that must be appropriate to the size and nature of each company; the creation of Ethics and Compliance Committees, in charge of supervising the implementation of these programs and making decisions on internal sanctions in case of violations; and promoting a work environment in which employees feel safe to report misconduct through Internal Reporting Systems that guarantee the confidentiality and protection of the whistleblower.
d) Facilitate Cooperation between Companies and authorities: The fight against corruption and other economic crimes requires close cooperation between the private sector and the competent authorities. Law No 31,740 promotes this cooperation by encouraging voluntary reporting. of illegal conduct by companies, which can be considered a mitigating factor in the imposition of sanctions; encouraging collaboration during investigations, ensuring that companies provide necessary documents, facilitate interviews and conduct internal audits when required; and the establishment of efficient communication channels between companies and authorities for the quick and effective resolution of cases.
preventive and corrective Measures
Law No 3,.740 establishes various preventive and corrective measures that companies must adopt in order to mitigate their administrative liability and prevent the commission of crimes. These measures are essential to create a business environment that promotes integrity,
transparency and compliance. of legal and ethical regulations, making it necessary for companies to implement continuous training programs for their employees on ethics and compliance issues. Training programs must be specific and appropriate to the role and level of responsibility of each employee within the company; For example, managers and senior executives may require more detailed and strategic training on ethics and compliance, while operational-level employees may need more practical training oriented to their daily functions, aiming at the proper implementation of a Corporate Risk.
the LaW not onLy seeks to sanction improper conduct, but aLso promote a cuLture of compLiance and ethics Within organizations, Which is achieved through the estabLishment of compLiance programs that must be appropriate to the size and nature of each company; the creation of ethics and compLiance committees, in charge of supervising the impLementation of these programs and making decisions on internaL sanctions in case of vioLations;
Prevention and Mitigation System.
It is essential that training includes specific modules on the prevention of corruption, money laundering and terrorist financing. These modules must explain the applicable legal regulations, the company’s internal policies and the best practices to prevent these crimes. It is necessary to consider that they should not be one-off events, but should be updated periodically to reflect changes in laws, regulations and internal company policies, since the objective is to ensure that employees are always aware of the latest developments and requirements.
It is recommended that companies should regularly evaluate the effectiveness of their training programs through surveys, exams and other evaluation methods, which will help identify areas for improvement and ensure that employees understand and correctly apply the knowledge acquired, in order to to make constant
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