Investigations by multilateral development banks: How to manage risks, responses and expectations

Chiawen Kiew

Journal of Financial Compliance, 2017, vol. 1, issue 2, 112-122

Abstract: Investigations by Multilateral Development Banks (MDBs) present significant risks to the business and reputation of companies, especially as they can result in public debarment and costly financial remediation. Appropriately managing an MDB investigation is crucial to mitigating the sanction that is imposed. The paper addresses tools to improve the outcome of an MDB investigation, including understanding the goals of the MDB, cooperating with MDBs and ensuring true remediation. It also discusses these issues through the lens of the enforcement mechanism of the European Bank for Reconstruction and Development, although the lessons are broadly applicable to other MDBs as well as national authorities. In addition to covering the policies and procedures that govern the investigation of allegations and imposition of sanctions the paper goes beyond the policy to provide insight into the considerations of the MDB in resolving allegations.

Keywords: investigation; fraud; corruption; debarment; enforcement (search for similar items in EconPapers)
JEL-codes: E5 G2 K2 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jfc000:y:2017:v:1:i:2:p:112-122

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