Managing Bribery & Corruption Risk
There is an increased regulatory focus on how firms obtain and retain business within emerging markets where bribery and corruption are present or in economies that are afflicted by high levels of corruption. It is imperative for organisations and their agents operating in these markets to know and understand the laws/legislations on bribery and corruption in order to deal effectively with bribery and corruption risk.
Course Description & Duration
This is a specialist course designed for managers, supervisors and employees within the financial sector subject to global and domestic Anti-Bribery and Corruption (AB&C) laws and regulations. The course will help delegates to understand their roles and responsibilities in protecting their firm against bribery and corruption risk. Delegates will be equipped with knowledge and practical guidance on how to evaluate key vulnerable areas in the business such as dealing with PEPs, third parties and geographical/sectoral risk, hospitality, promotional and other business expenditures as well as the global and national anti- corruption frameworks and controls for delegate to understand the AB&C regulatory requirements.
Our approach in this in-depth course is to facilitate discussions on the laws/regulations that criminalise bribery and corruption while engaging in practical exercises based on true-life case studies on bribery and corruption. The interactive nature of the course brings the teaching materials to life and will enhance delegates’ ability to understand where they are most vulnerable in order to implement the appropriate procedures to manage AB&C effectively.
This course is offered as a full day workshop.
Course Outline
- Overview of offences that constitute bribery & corruption (active, passive & commercial bribery).
- Overview of UK and international laws/legislation on Anti-bribery and Corruption.
- An explanation of the six principles that must guide anti-bribery procedures (proportionate policies/procedures, senior management level commitment, risk assessment, due diligence, communication and monitoring and review).
- What a firm’s Anti-Bribery and Corruption Policy must cover, taking into consideration its business model.
- What a firm’s Gifts and Entertainments procedures must cover, including details of amount thresholds, registers and reporting relevant to its business model.
- Escalation processes, whistle-blowing and disciplinary sanctions for breaches.
- How firms can take adequate and risk-sensitive measures to address the risk of third parties conducting business on their behalf (bribery of foreign officials and facilitation payments).
Training Outcomes
By the end of the training, delegates will be able to:
- Explain the UK laws/legislation and other international laws on Anti-Bribery and Corruption and how they operate.
- Discuss the Transparency International best practice tools and guidance on Global Anti-bribery and corruption.
- Describe the offences that constitute active, passive and commercial bribery.
- Explain the six principles that must guide Anti-Bribery and Corruption procedures.
- Outline what to incorporate into a firm’s Gifts & Entertainments and whistle- blowing procedures to manage their bribery and corruption risk effectively.
- Identify Bribery and Corruption indicators/breaches and report them effectively.
- Discuss the consequences of bribery and corruption.