Global White Collar Crime Survey: Anti-bribery and corruption
Businesses operating in today's global marketplace need to ensure that they have appropriate anti-bribery and anti-corruption systems in place. Such measures are essential to ensure that employees are aware of the rules, standards and of the culture that is promoted within their company, and know how they should react if they have an opportunity to bribe, or indeed if they learn of—or are confronted with—a request for an illicit payment.
When asked whether their company has a formal ABC policy, 19 percent of respondents reported that it did not, and a further 10 percent were unsure as to whether or not such a policy existed at all within their organization.
Without a formal ABC policy and adequate training in place, organizations will struggle to provide adequate guidance to employees.
These responses give rise to some concern, because having a policy known by and accessible to employees is a key element in any anti-bribery framework, without which there are unlikely to be any other anti-corruption measures in place. The existence of such a policy is an important signal to staff that ABC is on the corporate agenda. That 10 percent of respondents did not know whether their employer has a formal policy is also a cause for concern as it suggests that either there is not a policy, or that the policy has not yet been implemented, or that company communication and training efforts related to the policy are simply not effective.
Given the importance to companies doing business internationally of having an effective anti-corruption compliance program, an unacceptably large proportion of companies appear to be lacking the most basic component of such a program. Without a formal ABC policy and adequate training in place, organizations will struggle to provide adequate guidance to employees as to appropriate ethical practices as they navigate and compete in the global marketplace.
For more information please visit White & Case website at www.whitecase.com/publications/insight/many-companies-still-do-not-have-abc-policy