A few days ago, the non-profit organization World Compliance Association (WCA) published the Formation of the new Anti-Fraud Committee in Venezuela. This group of professionals will be in charge of disseminating the compliance culture in Venezuela. In addition, they will be led by our founding partner Alan Aldana for the development, evaluation and promotion of corporate compliance activities in the region. In that sense, for all those interested in the implementation of these regulatory programs, they will have an organization to turn to in case of any doubt. For Alan Aldana & Abogados this is a breakthrough in ethics and good corporate practices in our country, so today we will be talking about the responsibilities assumed by the organization in the territory.

What is the impact of the creation of the WCA Anti-Fraud Committee in Venezuela?

This is a non-profit organization that thrives on the international participation of its members. They are responsible for providing maximum promotion and dissemination of existing policies aimed at regulatory compliance by companies. They are also in charge of communicating and adapting different strategies to the reality of the Venezuelan corporate environment, so it is expected that in the coming years we will begin to see progress in insurance, state, stock market, financial and crypto-assets regulation.

Also, one of the organization's objectives is to serve as a platform to promote the reform of the Penal Code in order to foster the development of regulatory compliance in the country.

What is the current corporate compliance landscape in Venezuela compared to other countries?

Venezuela is a little behind in terms of legal adequacy, but there are some regulations in different scenarios. In the same way, some few subjects are obliged in the legal framework to develop risk prevention programs and other regulations. For this reason, the formation of the Anti-Fraud Committee in Venezuela expects to actively contribute in the advising for the adequacy of compliance programs in different Venezuelan companies.

How does the WCA Anti-Fraud Committee work in Venezuela?

This group is made up of 5 corporate compliance professionals in the country: Carlos Liendo Angarita as general coordinator, Gonzalo Pérez Salazar as academic director, Alan Aldana as technical director, Lisandro Bautista as IT and Security technical director and Javier Iranzo Heinz as inter-institutional director. They will work hand in hand with the association's international headquarters in Spain to promote compliance with international standards and norms.

Events and activities of the WCA Anti-Fraud Committee in Venezuela

Events and activities will soon begin with private and public institutions interested in corporate compliance as a policy in their organization. Some forums on the most effective compliance practices and the importance of adapting small and large companies to these crime prevention models are also expected.

On the other hand, the committee aims to address the different business schemes applied to the Venezuelan reality. As well as to make visible new schemes that already exist in other countries and are based on regulatory compliance. In this way it will be possible to understand the impact of the development of good practices in different countries and how these models can be applicable in the Caribbean region.

Finally, the presence of the WCA in the country means an international support to the promotion of ethics and culture of good business practices in Latin America. We are proud to be part of this evolution in legal security in Venezuela, with the presence of Alan Aldana as director of the Anti-Fraud Technical Committee. Because we will be able to incorporate more than one company in new international business schemes. Therefore, we hope that each meeting can become a common space for representatives of the business sector. With the objective of contributing to the adequacy of risk prevention programs and promoting the culture of compliance and legal security in Venezuela.

If you would like more information or need advice on this and other issues of criminal and commercial law, do not hesitate to contact us at contact us at. We also share with you our social networks so that you can keep updated on the legal topics that are in trend: Instagram, Facebook, Twitter y Linkedin.