Anti Bribery and Corruption
What is corruption and bribery?
When people or institutions act unethically for personal gain or to benefit a small number of people, it is referred to as corruption. It entails the abuse of authority for improper goals, such as theft, fraud, favoritism, and bribery.
Offering, providing, getting, or soliciting something of value (often money) in exchange for a favorable action or influence on behalf of the briber is known as bribery, which is a specific sort of corrupt behavior. In most jurisdictions, accepting a bribe is illegal, and it is commonly regarded as a serious type of corruption since it undermines the values of justice, transparency, and meritocracy in the decision-making process.
To counter this widespread phenomenon, the OECD signed in 1997 the Anti-Bribery and Corruption Convention which:
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Establishes legally binding standards for making bribery of foreign public officials in international business transactions a criminal offense.
Provides several measures to effectively implement its provisions.
Is the first and only international anti-corruption instrument targeting the "offering" of bribes to foreign public officials./p>
Adopted by 36 OECD member countries and 8 non-OECD countries (Argentina, Brazil, Bulgaria, Colombia, Costa Rica, Peru, South Africa, and Russia).
How can Pideeco help you with Anti Bribery and Corruption?
Corruption can have a wide range of detrimental effects on a company, including damaging its reputation, reducing employee morale, increasing legal and regulatory risks, and negatively impacting financial performance. Our experts at Pideeco can help you to:- Analyze your anti-bribery and corruption processes to spot any gaps and aid you in mitigating them.
- Draft or improve your anti-bribery and corruption policies and procedures.
- Train your staff members on anti-bribery and corruption processes.
- Investigate any suspicious bribery or corruption cases in your company.
- Advise on your next move in case of a bribery or corruption case in your company.
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