Control Risks

Control Risks is a global risk and strategic consulting firm specializing in political, security and integrity risk. The company’s primary services include anti-corruption audits, consultancy and training, eDiscovery, political risk analysis and a broad range of security and crisis management support.[2]

Control Risks
Corporation
IndustryConsulting
Professional Services
Founded1975
Headquarters
London
,
United Kingdom[1]
Number of locations
36 offices across the globe
ProductsSecurity services
Websitewww.controlrisks.com

History

Control Risks was formed in 1975, as a professional adviser to the insurance industry. A subsidiary of insurance broker Hogg Robinson, the firm aimed to minimize their exposure to kidnap and ransom payouts. The firm expanded its capabilities when these crisis management and incident response specialists were joined by political and security risk analysts, before becoming independent in 1982 following a management buyout.[2]

The firm formed a joint venture with International SOS in 2008, and through this partnership provides travel security services and advice to clients’ business travelers and expatriate employees.[3] In 2010, the firm Risks launched an eDiscovery offering to support organisations with complex, multinational litigation issues.[4]

The company has 3,000 employees, operating from 36 offices and with a presence in more than 100 countries and cities.[5]

The company counts Huawei, HSBC, Siemens, GSK China, Wallgreen Boots Alliance, China National Petroleum Corporation as clients to advise them on complex risk management issues and executive extractions.

They have also aided in high profile investigation cases such as Operation Car Wash (Portuguese: Operação Lava Jato) on behalf of key private and semi-public stakeholders.

Controversies

Control Risks hired former President and Managing Director of HSBC North America Holdings Inc, Irene Dorner as the Chairman of Control Risks. She became the Chair of Control Risks in April 2017 after being appointed a non-executive director in October 2016. She was sent to the US Senate Sub-Committee hearing to apologize for the mistakes HSBC made that led to a £1.2bn fine[6] for exposing the U.S. financial system to a wide array of money laundering, drug trafficking, and terrorist financing risks due to poor anti-money laundering (AML) controls.[7][8] The permanent subcomittee on investigations also maintained a record of this hearing titled: "U.S. Vulnerabilities to Money Laundering, Drugs, and Terrorist Financing: HSBC Case History".[9] She retired shortly after, ending her 32 year career at UK's largest lender. She is also featured in Netflix's original television series, Dirty Money in the "Cartel Bank" episode which talks about her leadership at an organization which was implicated in a money laundering scheme for the Sinaloa Cartel, Hezbollah and many others organizations linked to narcotics and organized crime syndicates.

See also

References
  1. "The murky world of hostage negotiations: is the price ever right?". The Guardian. London. 25 August 2014.
  2. "Iraq security firm joins bidding for Wall Street's favorite detective agency". The Guardian. London. March 13, 2010.
  3. "International SOS and Control Risks form joint venture". International SOS. 7 March 2008. Archived from the original on 27 August 2014.
  4. https://www.legalitprofessionals.com/legal-it-columns/joanna-goodman/4706-a-look-under-the-bonnet-of-control-risks-ediscovery-engine
  5. "Control Risks Group Holdings Limited: Private Company Information". BusinessWeek. 2011. Retrieved 7 June 2011.
  6. "HSBC agrees $1.9bn US penalties". BBC News. 2012-12-11. Retrieved 2020-01-30.
  7. Homel, U. S. Senate Committee on; Security; Washington, Governmental Affairs 340 Dirksen Senate Office Building; DC; Committee, 20510224-4751 Get Directions Contact The. "Majority Media | Media | Homeland Security & Governmental Affairs Committee". www.hsgac.senate.gov. Retrieved 2020-01-30.
  8. Treanor, Jill (2014-06-16). "Irene Dorner, HSBC banker forced to apologise to the US senate, retires". The Guardian. ISSN 0261-3077. Retrieved 2020-01-30.
  9. United States. Congress. Senate. Committee on Homeland Security and Governmental Affairs. Permanent Subcommittee on Investigations, author. U.S. vulnerabilities to money laundering, drugs, and terrorist financing : HSBC case history : hearing before the Permanent Subcommittee on Investigations of the Committee on Homeland Security and Governmental Affairs, United States Senate, One Hundred Twelfth Congress, second session, July 17, 2012. OCLC 823510801.
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