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The risk of bribery and corruption is always present in business. It is our duty, as an organization, to implement an anti-bribery and anti-corruption policy to minimize these risks and ensure we are always operating legitimately.
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Aside from operating with quality and efficiency, our business values operating ethically, and legally.
It is our responsibility as an organization, to ensure that you are well-informed on what constitutes bribery and corruption, and why we implement a zero-tolerance policy against unethical practices.
Defining Bribery and Corruption
A security guard receiving a bribe from criminals in exchange for allowing access to facilities and assets with the intention of theft.
An executive accepting a bribe to hire or promote a person who would not have been selected otherwise.
A bank employee accepting a bribe in exchange for confidential bank details.
Common Types of Corruption Active and passive bribery Collusion - Where two employees, either from the same or different organizations, make unlawful arrangements for their mutual, personal gain. Coercive Extortion - Making explicit or implicit threats from a position of power in order to coerce the opposing party to pay up or risk unfair treatment. Insider Trading - Receiving a bribe in exchange for divulging private and confidential information. Embezzlement - Stealing or misappropriating money and other valuables entrusted by the company or organization.
What are the things we need to know in order to lower the risk of bribery and corruption as we conduct our business? Select all correct answers
The prevention of bribery and corruption is in the best interest of both our internal, and external stakeholders.
Through diligence and vigilance, we can prevent bribery and corruption from plaguing our operation.
What are the benefits of preventing bribery and corruption in our company? Select all correct answers
Through the implementation of anti-bribery and anti-corruption training, we can ensure that all internal stakeholders are aware of what constitutes these illegal activities so they can actively avoid them.
On top of awareness, this training program also aims to empower all employees, even on a staff level, to do their due diligence in assessing bribery and corruption risks in their day-to-day dealings.
Monitor and Review the Effectiveness of the Policy To ensure that our policy stays relevant to the way we conduct our business, we need to monitor and review its effectiveness on a regular basis. Do our financial and asset records accurately reflect expenditure and earnings reports? Is our policy well-written, and can be understood clearly by old and new employees alike? Is our policy easily accessible to relevant stakeholders? Answering these questions, aside from other use cases that may come up, can help us evaluate the effectiveness of our anti-bribery and anti-corruption policy so we can improve it with each future iteration as needed.
What are the things we need to know in order to lower the risk of bribery and corruption as we conduct our business? There can be more than one correct answer.
What are the benefits of preventing bribery and corruption in our company? Select all correct answers.