Location: Annapolis, MD
Industry: Professional services
TRACE Inc. is an independent compliance firm and provider of professional due diligence and consulting services. President Alexandra Wrage founded the company to meet compliance demands that did not fall under the scope of the shared-cost membership model of TRACE International, the nonprofit entity TRACE works alongside. At a time when most companies paid little attention to anti-bribery compliance, Wrage understood that anti-bribery due diligence had become a regulatory expectation facing companies under the Foreign Corrupt Practices Act, U.K. Bribery Act and the anti-corruption laws of other countries. Under Wrage’s leadership, TRACE has carried out more than 500,000 due-diligence investigations ranging from basic reputational screening to in-depth, on-the-ground audits.
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In its work, TRACE recognized that companies need to quickly and cost-effectively screen large volumes of names to identify individuals and entities that present a potential source of risk. That’s why the company developed TRACEbasic, which gives companies the power to conduct a fundamental aspect of anti-bribery due diligence — quickly and easily screening third parties against government regulatory, watch and sanctions lists.