Anti-bribery and corruption - the essentials (e-learning)

This e-learning has been designed for professionals of the financial and commercial industries seeking a baseline understanding of anti-bribery and anti-corruption practices and is to be used in conjunction with applicable regulatory requirements and legislation.

Overall, it is dedicated, but not exclusively, to:

• professionals employed by financial institutions and commercial companies;
• personnel from accountancy practices, law firms and regulators;

Technical requirements:

• A personal computer (recommended), tablet or smartphone
• An up-to-date internet browser (Google Chrome recommended)
  • Cookies should be enabled
  • JavaScript should be enabled
• A stable internet connection
• Should the internet connection be lost during an e-learning session, the browser will need to be restarted when internet is back to resume the e-learning at the last step recorded by the learning management system before the connection went out.

When people think of bribery and corruption, they often envision the exchange of suitcases full of money in dark alleys or invitations to lavish trips or events. The topic is also commonly associated with less developed countries or only certain sectors like construction or sports. The fact that Luxembourg consistently scores high in the Corruption Perception Index might lead some to believe that 'this doesn’t happen here'.

However, bribery and corruption often take much more subtle forms, e.g. the exchange of favours and information, concealed payments or circumvention of normal procedures.

In our global economic crime survey 2024, 69% of the respondents reported risks associated with corrupt or improper payments to government officials or commercial customers to have either stayed the same or increased, as compared to previous years.

Bribery and corruption are among the top types of experienced frauds. Out of the companies accused of committing a financial crime, corruption was one of the most frequent charges.

Still, most companies admit to lacking a programme to address bribery and corruption risk with half of all respondents either performing no due diligence or only informal third-parties due diligence. Fewer than 3 in 10 companies conduct limited testing of the operating effectiveness of their controls, and another 12% perform no testing at all.

PwC Academy offers a digital training to raise awareness of the risks of bribery and corruption that companies and institutions face in Luxembourg and to explain the framework and best practices in managing those risks.

This e-learning embeds content entirely created by PwC experts and delivered through AI-powered visuals.

By the end of this training, participants will be able to:

• understand the fundamentals of anti-bribery and anti-corruption efforts and their regulatory framework;
• describe ABC policies and best practices;
• explain the prevalence of corruption in Luxembourg and its impacts on the market.

The course consists of 5 modules:

• Definition and fundamentals of corruption
• ABC regulatory framework
• ABC policies and best practices
• Insight into the prevalence of corruption in Luxembourg
• Impact of corruption

We deploy our e-learning solution as from 10 licences.

• From 10 to 50 participants: 75 EUR
• From 51 to 150 participants: 70 EUR
• From 151 to 300 participants: 60 EUR
• More than 300 participants: 50 EUR

This e-learning, coordinated by Michael Weis, Partner at PwC Luxembourg, has been designed by experts of PwC Forensic Services.

Michael leads PwC’s Forensic Services practice and AML taskforce, overseeing investigations, remediation projects, and high-profile AML audits for banks and investment funds. He is the key contact for AML distribution due diligence in asset management and works closely with PwC’s global forensic network on international projects. As certified fraud examiner, Michael is recognized as an AML and forensic expert and actively contributes to industry working groups on fraud at the Institute of Internal Auditors (IIA) and the Institut Luxembourgeois des Administrateurs (ILA). He regularly conducts workshops and training on AML and fraud in Luxembourg and abroad.

Alessandro Casarotti is a director specialising in forensic services with over a decade of experience in AML/CTF. Since 2015 at PwC, he has prepared and delivered global AML, sanctions, and CTF training, serving as a subject matter expert and leading significant investigations including fraud, market abuse, and Panama Papers cases in Luxembourg. He has managed major onsite inspections mandated by the CSSF and led AML projects focused on risk assessment, PEP reviews, and KYC remediation for banks and funds. Alessandro also reviews and redesigns AML/KYC policies and procedures to align with evolving regulatory requirements.

Olesja Skurdalova is a senior manager in the Forensic and Anti-Financial Crime Services in PwC Luxembourg, with substantial expertise in the forensic investigations and financial sanctions’ regulations.

She worked on various small and large-scale investigations, financial and internal audit reviews, and assisted financial institutions in Luxembourg on regulatory and technical aspects of financial sanctions application and transaction monitoring, as well as other AML and anti-financial crime matters.

She is also a Certified Internal Auditor and Nuix certified e-discovery specialist.