Risk mitigation for bribery

The complete guide to help companies develop an effective anti-bribery programme

Bribery and corruption are not new issues. But they remain impressively persistent in their ability to wreak havoc and cause trouble. According to the World Bank, £800 billion is paid each year in bribes, and more than double that goes to corruption and enforcement. That figure represents 5% of the global GDP. (And the real number is likely even higher.)

The United Nations listed corruption as “one of the biggest impediments” to achieving its 2030 Sustainable Development Goals. In the workplace, bribery is deeply destructive and often insidious. Organisations are losing hundreds of thousands of pounds to these schemes, not to mention reputational damage and legal action.

The UK Bribery Act 2010 was introduced to clamp down on illicit payments, while the National Crime Agency was established in 2013 to oversee law enforcement response. A key component of the Act – and significant for companies – is that it’s not just individuals who can be held accountable for taking or offering bribes. Their employer can also be fined up to 10% of their organisation’s turnover, and they could be prohibited from tendering certain contracts.

All this means that it’s vital that companies know how to manage and mitigate their bribery and corruption risks in their organisations. We created this guide to help companies develop an effective anti-bribery programme and learn how to mitigate the risks of corruption.

Download Guide to risk mitigation for bribery

How are you managing your GDPR compliance requirements?

GDPR added a significant compliance burden on DPOs and data processors. Data breaches must be reported to the authorities within 72 hours, each new data processing activity needs to be documented and Data Protection Impact Assessments (DPIA) must be carried out for processing that is likely to result in a high risk to individuals. Penalties for breaching GDPR can reach into the tens of millions of Euros.

“In a world older and more complete than ours they move finished and complete, gifted with extensions of the senses we have lost or never attained, living by voices we shall never hear.”