Corruption impacts all countries, regardless of their status. It results in weakness, imbalance, and poverty, consuming national wealth. So what can you do to decrease the danger in your company?
1. Refresh your anti-bribery and anti-corruption laws
Most businesses in any country have embraced anti-bribery systems- but it’s the action they are performed that will make a difference. It’s risky that all staff understand what is and isn’t tolreable in relation to gifts glass galaxy rose, comradeship, contributions, support, and political gifts.
Make sure staff well understands your company’s rules and expectations when it comes to bribery and corruption.
2. Establish the tone ‘from the top’ right
Staff knowledge of anti-bribery laws is only half the story. Establishin an anti-bribery culture requires a clear and logical set of information coming from the top.
Everyone from the cabinet of directors, the business proprietor and the agreement function require to make it clear that they won’t allow bribery and corruption and that whoever found committing will experience the highest sanctions.
4. Make sure gifts and hospitality meet 3 important criteria:
Any gift or hospitality a person provides or receives should:
- Have a genuine business goal (there’s a real business objective)
- Be proportionate (i.e. understandable and not extremely generous)
5. Plan due diligence on all partners
Anti-bribery laws are also being utilized by all your third parties, i.e. any individuals, agents, advisers and allies, and anyone else that symbolizes you or acts on your organization’s behalf. You are obligated beneath the law to thoroughly monitoring and checking these parties.
This implies implementing sufficient policies and controls to make sure third-parties are who they pretend to be, have the relevant credentials and are supported at the superior management level.
7. Take extra care in managing foreign public officials
When it comes to dealing with foreign public officials, make it obvious that employees must not give cash or anything of importance to a foreign public leader or anyone personally related to them, such as donations or voluntary organizations run by their partner.