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Why bother with anti-corruption and integrity compliance?

Protect, comply… and thrive

“With our increasing use of Big Data and in the digitally connected world, it is less ‘if you will be caught’ but increasingly ‘when we choose to catch you’.”
US Federal Bureau of Investigation (FBI)

Why bother with anti-corruption and integrity compliance? Quite simply because regulators and law enforcers are getting tougher on corporate wrongdoing.

Whatever the size of your organisation, it’s vital you understand the corruption and bribery risks across your value chain and implement policies and procedures to mitigate those risks and ensure compliance with legislation. Not only does this protect you from enforcement action and catastrophic damage to your brand, it can reduce your cost base (the World Economic Forum estimates that corruption adds 10% to business costs globally) and help position you to make the most of economic opportunities worldwide.

 

Benefits of effective anti-corruption and integrity compliance

Reputation

Avoid damage to your corporate reputation and become known for integrity amongst your employees and other stakeholders

Competitive edge

Equip your organisation to win new contracts and orders as more and more customers seek assurance of prospective suppliers’ ethical credentials

Capabilities

Identify where you need to train and educate senior management and frontline staff to ensure sustained high standards of integrity

Peace of mind

Protect yourself and other company officers from the risk of enforcement action, which can result in imprisonment and ruin personal reputations

Compliance

Demonstrate your compliance with relevant legislation, especially if you are a firm regulated by the financial authorities e.g. the UK’s FCA

Cost reduction

Cut costs from shrinkage and loss and (possibly) reduce premiums for directors’ and officers’ liability and legal costs cover

Financial security

Avoid the punitive individual and corporate fines increasingly levied by courts and regulators for corruption offences

Innovation

Compel sales people to develop new and ethical ways to win business and secure orders

Employee engagement

Enhance employee perceptions of your organisation and gain their commitment to executing the strategy – in the right way

Recent posts

Latest views and ideas on compliance and anti-corruption issues from our experts

Really know with whom you’re doing business

Many factors have come together recently – notwithstanding the new Money Laundering Regulations (MLR 2017), which increases the pressure on both FCA regulated and non-regulated companies to better find out with whom they are doing business. Regulated firms – including...

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Why ISO37001 is such a big deal

In this article, we'll explain why ISO37001 is important in protecting your organisation from bribery and corruption by creating systems that avoid malpractice. The Origins of Quality Management for Anti-Bribery and Anti-Corruption In 1987 the ISO9001 Quality...

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Catch me if you can

Five common myths in UK SMEs re international bribery risk… 1. “Only large corporates are prosecuted for a Bribery Act offence” – NOT TRUE: more SMEs and individuals than major corporates have been prosecuted. Generally, the evidence is easier to collect and an SME...

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