Pepeliaev Group and Kaspersky Laboratory have entered into an agreement to work together in the field of automating the prevention of compliance risks
According to research by Kroll, a global leader in risk management, respondents in Russia view with scepticism the efficiency of internal mechanisms for identifying risks within companies. Their companies' culture of transparency and reporting is assessed as below average (66% as against 75% globally). A few of the respondents in Russia say that legal due diligence within their companies is effective. The answers provided by the respondents demonstrate that the likelihood of a reputational due diligence exercise being conducted as part of the legal due diligence of suppliers and clients is negligible.
The main compliance risks in Russia and the CIS countries include cooperation with bad faith contracting parties, a conflict of interests and exposure to corruption. Such risks can not only result in considerable financial losses, but can also cause significant reputational damage. Regulatory risks are especially high when companies’ operations run at odds with anti-corruption legislation and money laundering standards, or antitrust rules, or when sanctions regimes are violated.
Compliance requirements constitute an integral part of the business environment. Realising the seriousness of the problem, companies today are actively implementing preventive measures against legal risks. This has become a widely recognized corporate standard and a key methodology for reducing financial and reputational losses.
“At present, it is hard to imagine a successful business that does not deploy the new opportunities offered by cutting-edge technologies. This is not our first experience of a partnership with a major hi-tech company. Our specialists are well versed in technological changes and possess many years of experience in developing business initiatives in a changing regulatory environment. We are delighted to see our lawyers developing their areas of expertise with the help of the solutions offered by Kaspersky Laboratory”, commented Sergey Pepeliaev, managing partner at Pepeliaev Group.
“The deep expertise of Pepeliaev Group’s lawyers will underpin the development of new functional modules for the products of Kaspersky Laboratory aimed at automating business processes in large companies in various industries”, added Sergey Svetushkin, head of the business process automation division at Kaspersky Laboratory.
Kaspersky is a global cybersecurity company founded in 1997. Kaspersky’s deep threat intelligence and security expertise is constantly transforming into innovative security solutions and services to protect businesses, critical infrastructure, governments and consumers around the globe. The company’s comprehensive security portfolio includes leading endpoint protection and a number of specialized security solutions and services to fight sophisticated and evolving digital threats. Over 400 million users are protected by Kaspersky technologies and we help 250,000 corporate clients protect what matters most to them. Learn more at www.kaspersky.com
About Pepeliaev Group
Pepeliaev Group is a leading Russian law firm offering the full range of legal services in all regions of Russia, in most former Soviet countries and abroad. Over 160 lawyers in Moscow, St Petersburg, Krasnoyarsk, Yuzhno-Sakhalinsk, Vladivostok, Beijing and Shanghai provide legal assistance to over 1,500 companies operating in various industries. 50% of these are international corporations implementing long-term investment projects in Russia. Learn more at www.pgplaw.com