Download the eBook to understand the essential building blocks of automation technology and how to drive impact within your compliance program.
Training employees on anti-corruption is necessary for protecting organizations from risk and ensuring that employees are acting in a way that is reflective of the ethical standards set by the company.
What is Anti-Corruption Training?
Training may take many forms, including e-learning courses, traditional on-site training, internal communications, and electronic and physical policy signings. Topics can include anti-corruption practices within organizations as well as anti-corruption best practices when managing third party relationships such as vendors and sales agents.
Why is it Important for Companies to Participate in Anti-Corruption Training?
It is extremely important for companies, and their employees, to participate in anti-corruption training for a variety of reasons. First, anti-corruption training informs teams what kind of behavior is acceptable and not acceptable within the normal course of business. Additionally, there are many nuances to global anti-corruption regulations, so organizations must ensure their teams understand them. In some cases, an employee may violate an anti-corruption law or regulation unknowingly, bringing substantial risk to their company.
What is the Difference Between Corruption and Bribery?
At a high level, corruption and bribery are related. Corruption refers to a wide variety of behaviors by an individual or group of individuals that aim to create personal gain through the abuse of power. Corruption comes in many forms, including governmental and commercial.
Bribery is a type of corruption that is defined as the offering, giving, receiving, or soliciting of any item of value to influence the actions of a person in any public position. Specific to government, bribery involves accepting anything of value (gifts, money, etc) in exchange for an official governmental decision or action.
Is it a Legal Requirement to have an Anti-Bribery Policy?
Technically it is not a legal requirement to have an anti-bribery policy, but organizations are required to abide by anti-corruption legislation throughout the globe. If an organization does not have a policy in place, employees are not going to be aware of what situations and actions they should be avoiding. Additionally, if an organization finds itself under investigation from a governmental agency and they are unable to present the structure of a good compliance program, including strong policies, they are far more likely to experience the reputational and financial punishments of anti-corruption violations.