ABC (Anti-Bribery and Corruption) - Compliance with laws to prevent bribery and corruption, with specific business programmes designed to reduce the risk of a compliance failure.
AML (Anti-Money Laundering) - Regulations designed to prevent criminals from disguising illicit gains as legitimate income. Many bribery cases involve money laundering to conceal corrupt payments.
BVI (British Virgin Islands) - A well-known offshore jurisdiction often associated with secrecy in financial transactions. Shell companies registered in BVI have been linked to corruption and bribery schemes.
BACS (Bankers' Automated Clearing System) - An electronic system in the UK for processing financial transactions, including direct debits and credits.
BO (Beneficial Owner/Ownership) - The individual or entity that ultimately owns or controls an asset, property, or company, even if it is held in another name.
CE (Conformité Européenne) - A certification mark that indicates a product meets EU safety, health, and environmental protection standards. In the context of bribery, fake CE certificates can be used to fraudulently approve substandard goods.
CFT (Countering the Financing of Terrorism) - Regulations designed to detect and prevent the flow of funds to terrorist organisations, which often overlap with anti-money laundering efforts.
DOJ (Department of Justice) - The US federal agency responsible for enforcing the FCPA and prosecuting companies and individuals involved in bribery and corruption.
DPA (Deferred Prosecution Agreement) - A legal agreement between a corporation and a prosecuting authority, allowing the company to avoid a criminal conviction by meeting certain conditions, such as paying fines and improving compliance measures. DPAs are commonly used in cases of corporate tax evasion and financial crime.
DNFBPs (Designated Non-Financial Businesses and Professions) - Sectors that, while not financial institutions, are susceptible to money laundering and terrorist financing, such as real estate agents, lawyers, and accountants.
EITI (Extractive Industries Transparency Initiative) - A global standard promoting transparency and accountability in the oil, gas, and mining sectors to prevent bribery and illicit financial flows.
FAC (Facilitation Payment) - A small bribe given to expedite routine government actions, such as visa approvals. Unlike other bribes, facilitation payments may be tolerated in some jurisdictions but are illegal under the UK Bribery Act.
FCPA (Foreign Corrupt Practices Act) - A US law prohibiting companies and individuals from bribing foreign officials to gain a business advantage. It is one of the most enforced anti-corruption laws worldwide, often applied to multinational firms.
FPO (Foreign Public Official) - A government official from another country. Bribing an FPO is a specific offence under the UK Bribery Act and the US FCPA.
FSA (Financial Services Authority, UK) - The former UK financial regulatory body responsible for enforcing anti-bribery measures in the financial sector before its functions were transferred to the FCA and PRA.
G20 ACWG (G20 Anti-Corruption Working Group) - A coalition within the G20 that develops policies to combat corruption and enhance international cooperation in enforcing anti-bribery laws.
GRECO (Group of States against Corruption) - A Council of Europe body that monitors member states' compliance with anti-corruption standards and evaluates their policies.
ICO (Information Commissioner's Office, UK) - The UK regulator for data protection and privacy, which may investigate bribery cases involving unauthorised access to personal or corporate data.
IFRS (International Financial Reporting Standards) - A set of global accounting standards. Compliance with IFRS helps prevent fraudulent financial reporting and concealment of bribery payments.
IMF (International Monetary Fund) - An international financial institution that provides guidance on anti-corruption measures as part of its economic policies and lending conditions.
IPO (Initial Public Offering) - The process by which a private company offers shares to the public for the first time. In anti-bribery contexts, IPOs can attract scrutiny if corruption risks, such as undisclosed payments, exist in a company's financial history.
ISO 37001 (Anti-Bribery Management System Standard) - An international standard providing guidance for companies to prevent, detect, and respond to bribery risks.
KYC (Know Your Customer) - A compliance process used by banks and businesses to verify customer identities and prevent financial crimes, including bribery-related money laundering.
MLRO (Money Laundering Reporting Officer) - A designated individual within a company responsible for overseeing compliance with AML regulations and reporting suspicious activity to authorities.
NGO (Non-Governmental Organisation) - Independent organisations often engaged in charitable or policy work. In bribery cases, NGOs may be misused as channels for illicit payments disguised as donations.
OECD (Organisation for Economic Co-operation and Development) - An international organisation that promotes policies to improve economic and social well-being. The OECD monitors global anti-bribery efforts and has criticised outdated bribery laws in some jurisdictions.
PAC (Political Action Committee) - An organisation that raises and spends money to influence political elections. PACs can be used to funnel bribes disguised as political contributions.
PCA (Permanent Court of Arbitration) - An international tribunal that resolves disputes between states and investors, including cases involving bribery and corruption in business contracts.
PEP (Politically Exposed Person) - An individual with prominent public functions, such as politicians or senior government officials. Due to their position, PEPs are considered at higher risk for bribery and corruption.
PPE (Personal Protective Equipment) - Equipment such as masks and gloves used in health and industrial settings. In bribery cases, fraudulent PPE procurement and false certification are risks, especially in crisis situations.
SFO (Serious Fraud Office, UK) - The UK government agency responsible for investigating and prosecuting serious or complex fraud, bribery, and corruption. The SFO has led several high-profile bribery investigations under the UK Bribery Act.
TI (Transparency International) - A global NGO dedicated to fighting corruption. TI publishes the Corruption Perceptions Index, ranking countries based on perceived levels of public sector corruption.
UKBA (UK Bribery Act 2010) - The United Kingdom's comprehensive anti-bribery legislation, widely regarded as one of the world's strictest anti-corruption laws. It criminalises offering, receiving, and failing to prevent bribery.
UNCAC (United Nations Convention Against Corruption) - A comprehensive international treaty aimed at preventing and criminalising corruption, promoting international cooperation, and recovering stolen assets.
UNODC (United Nations Office on Drugs and Crime) - The UN agency that promotes anti-corruption measures, including implementing the United Nations Convention against Corruption (UNCAC).
WBG (World Bank Group) - An international financial institution that funds development projects. It enforces anti-bribery policies and blacklists companies involved in corrupt practices.
