Challenge of Addressing Bribery & Corruption
Bribery and corruption can happen anywhere in the organization, but it tends to be most prominent in teams that engage with or operate overseas and interact with government officials. Doing business globally has opened up organizations to new rewards, but also to new risks.
The U.S. Foreign Corrupt Practices Act (FCPA) and the U.K. Bribery Act set the general parameters for defining bribery and corruption around the world. These acts set the guidelines for how to identify, avoid, report and prevent bribery and corruption, how organizations should open reporting channels for employees and third parties, how to drive awareness and education on the topic, and how to maintain accurate records that can help protect the organization if incidents arise.
Failure to take responsibility for your organization’s internal and external dealings can often end in damaging allegations, unwanted media attention and continual investigations. Many of the corruption scandals making headlines could have been handled more effectively with clear policies against bribery and corruption on the front end and a safe place for employees to speak up if they do see bribery or corruption. Employees and third parties need clarity around what steps to take if they witness misconduct through training, policies and a process to report. Knowledge is power and, in this case, protection.
See How Anti-Bribery Training Can Help