Compliance Glossary

A

Anti-Corruption Training

Training employees on anti-corruption is necessary for protecting organizations from risk and ensuring that employees are acting in a way…

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B

Bid Rigging

What is Bid Rigging? Bid rigging is a form of collusion in which bidders on a contract decide who should…

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Business Ethics

Ethical guidelines within an organization can be influenced by law, public pressure, or a combination of both and are often…

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C

Code of Conduct

A code of conduct is the most common policy within an organization. This policy lays out the company’s principles, standards,…

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Code of Ethics

A code of ethics is similar to a code of conduct in that it establishes behavior expectations that an organization…

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Corporate Liability

Corporate liability is the legal responsibility a corporation assumes for acts committed by the organization’s employees or agents acting on…

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Culture of Compliance

What is a Culture of Compliance? A company has a compliance culture when compliance is a central and unalterable part…

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F

Facilitation Payments

Facilitation payments are typically demanded by low-level and low-income officials. In some countries, it is customary to provide small unofficial…

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Fraud

Fraud involves the use of deception, trickery, and a breach of trust to gain an unfair or unlawful advantage. Occupational…

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G

Gifts and Hospitality

Gifts and hospitality, including travel and entertainment, are legitimate expenses and common business practices to build relationships or express appreciation….

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I

Influence Peddling

Influence peddling occurs when an individual who has real or apparent influence over someone else another person exchanges their influence…

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M

Money Laundering

The intention of money laundering is to make illegally obtained money appear to come from a legitimate source.  What is…

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N

Nepotism

The most common form of nepotism is increasing employment opportunities for relatives. Although there are arguments for nepotism practices when…

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P

Passive Bribery

Passive bribery describes the actions taken by the person receiving the bribe. The bribe is considered passive, whether the person…

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