Anti Bribery and Corruption
How do financial institutions fight against bribery and corruption ?
It is the first and only international anti-corruption instrument targeting the "offering" of bribes to foreign public officials.
The 36 OECD member countries and eight non-OECD countries - Argentina, Brazil, Bulgaria, Colombia, Costa Rica, Peru, South Africa and Russia - have adopted this Convention.
When is corruption taking place?
When a person (e.g. a public official) taints activities by accepting bribes to defend the interests of individuals by using their authority and status. The payment or promise of payment to a third party by the company is corruption.Corruption can come in many forms: bribery, fraud (e.g. forgery of data), extortion, embezzlement, favouritism.
Every company's compliance program should include details on how to deal with corruption incidents. The protection of a company and its reputation is paramount.
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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