IRD Strengthens Compliance with New TRAC Leadership Role
For Press Calls Only,
Contact: Jeffrey Grieco
ARLINGTON, VA – International Relief and Development (IRD) is one of six new members, and the first non-profit organization, to join the TRAC Leadership Group. TRAC, or TRACE Registered Access Code, is an online, supply-chain, compliance and due diligence system created by TRACE, a leader in corporate anti-bribery solutions.
The TRAC system collects information on organizations and individuals and issues ID numbers to approved applicants. The 12-digit ID number quickly and cost‐effectively establishes a TRAC holder’s identity, address, and other information and screens the holder’s name against international watch lists. TRAC holders can upload key documents to the TRAC online database to support their profile.
“We are committed to transparency in our global operations, and TRAC will allow us to quickly and reliably verify our partners online,” said IRD Director of IT Mladen Basaric. “TRAC will strengthen our security and compliance operations and help ensure our donors that their funds are being managed appropriately.”
The TRAC Leadership Group includes multinational companies, such as Adobe, American Airlines, and Home Depot, and international organizations like IRD. Each member company has demonstrated a commitment to compliance and commercial transparency. In addition, each Leadership Group member company has integrated TRAC into their worldwide business operations and now encourages or requires their third parties to obtain a TRAC ID number.
“IRD is on the cutting edge of addressing international anti-bribery, business transparency, and due diligence issues,” said Alexandra Wrage, President of TRACE. “Before TRAC was launched, companies struggled with cumbersome solutions for screening overseas suppliers, including dealing with the huge variation in ID numbers from country to country, screening against various government denied parties lists, and managing hundreds of false hits. TRAC harmonizes these systems, verifies key information, and creates a robust, integrated compliance solution. We applaud IRD for its commitment as a TRAC Leadership Group member.”
About TRACE and TRAC:
Headquartered in Annapolis, Maryland, TRACE develops cost-effective anti-bribery compliance solutions for multinational companies and their commercial intermediaries, including sales agents and representatives, consultants, distributors, suppliers and others. TRACE is committed to pragmatic alternatives to time-consuming and expensive corporate compliance. In the process of providing anti-bribery services, TRACE identified a broader need for a global system to identify and verify companies, partnerships, charities, and individuals committed to commercial transparency by assigning a unique legal entity identifier. TRACE owns and operates the TRAC system and reviews the information, but the TRAC information is managed by the TRAC holder. More information about TRAC is available at www.tracnumber.com.
For more information on IRD, visit www.ird.org, and visit the IRD Voices blog to read first-hand accounts from IRD staff in the field. You can also stay up-to-date on IRD’s latest news by following us on Facebook, Twitter (@ird_voices), Flickr, or YouTube.
IRD is a nonprofit, nongovernmental organization responsible for implementing relief, stability, and development programs worldwide. IRD's mission is to reduce the suffering of the world's most vulnerable groups and provide the tools and resources needed to increase their self-sufficiency. Specializing in meeting the needs of communities emerging from conflict or natural disaster, IRD partners with donors, local organizations, and many others to deliver sustainable services in agriculture, governance, health, and infrastructure.