Business

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. 

What constitutes "bribery?" What is considered "corruption?" In this lesson, we will define terms, so we can clearly distinguish legitimate business dealings from illegal ones. 

Disclaimer


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.


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.


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.


Common Types of Corruption


Defining Bribery and Corruption 

Before hiring an employee, or choosing to do business with an individual or a corporation, we must first do our due diligence to assess the risk of bribery and corruption, so we can mitigate them. 

What are the things we need to know in order to lower the risk of bribery and corruption as we conduct our business?


Assessing the Risk of Bribery and Corruption

In this lesson, we will talk about the practical steps we can take in order to mitigate the risks of bribery and corruption in our organization. 

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?


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.


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.


Monitor and Review the Effectiveness of the Policy


Prevention of Bribery and Corruption

How much can you remember from this course? Let's find out!

There can be more than one correct answer.


Quiz 

While almost all countries have anti-bribery and anti-corruption laws, their provisions and guidance tend to differ. Here are some country-specific guidance information for further reference. 

New

free course

Anti-Bribery and Anti-Corruption Policy

Anti-Bribery and Anti-Corruption Policy Lessons

Course overview

The full course includes

Explore more

EdApp is easy to use and free for you and your team. No credit card required.