Bribery and corruption two facets of the same coin
Bribery is the offering, giving, receiving, or soliciting of any item of value to influence the actions of an official or other person in charge of a public or legal duty, contrary to their duty and the known rules of honesty and integrity.
Forms of Bribery
- Secret commissions
- Kickbacks
- Facilitation payments
- Gifts and entertainment
- Campaign contributions
- Inflated sale of an object or property
- Lucrative contracts
- Donations
- Fundraising
- Sponsorship
Types of Corruption
Passive bribery: requesting or receiving an undue advantage from a public official
Active bribery: promising, offering, or giving an undue advantage to a public official.
Forms of Bribery
- Secret commissions
- Kickbacks
- Facilitation payments
- Gifts and entertainment
- Campaign contributions
- Inflated sale of an object or property
- Lucrative contracts
- Donations
- Fundraising
- Sponsorship
Key Takeaways
- Bribery and corruption are serious offenses that can have severe consequences.
- Companies must have strict policies and procedures in place to prevent bribery and corruption.
- Employees must be aware of the risks and report any suspected incidents.
- Transparency and open payment practices are essential in preventing corruption.