Bribery and Corruption: Protect your Organisation and Supply Chain

Regardless of the type of business legal entity bribery and corruption is a major risk with stiff legal penalties if a party is found guilty. Developing a bribery and corruption policy and implementing the necessary process and procedures will go a long way to mitigating the risk to you, your organisation and supply chain in your domestic and international market.

What is Bribery and Corruption?

Bribery is the act of offering a gift or advantage in order to induce someone to act in a way that breaches the law or is dishonest. The gift does not have to be monetary; it can include any kind of benefit such as hospitality, a favour or other type of “undue reward”. Not every gift or reward is considered a bribe.

  • A construction company guaranteeing an elected official ten percent in kickback money in exchange for a large public infrastructure contract;

  • A pharmaceutical firm bribes doctors, hospitals, or other healthcare facilities with incentives to use prescribe their drug to patients.

When someone acts corruptly they tend to show a deliberate intent, an improper purpose or motivation, and may involve conduct such as:

  • deliberately failing to perform the functions of office properly;

  • exercising power or duty for an improper purpose;

  • or dishonesty.

Some examples include blackmail, bribery, fraud or stealing, extortion, forgery, perverting the course of justice and deliberately releasing confidential information.

What can your Organisation do?

Australian laws governing anti-bribery and corruption operate at both the Commonwealth and state and territory levels. These laws can apply to individuals and companies for bribery and corruption both inside and outside Australia. Multiple government agencies (such as ASIC, Austrade and the Attorney-General’s Department) have released useful resources providing practical guidance on how to comply with your anti-bribery and corruption obligations – many of these resources are collated in link below:

https://briberyprevention.com/resources/australian-government/

Tagai Management Consultants is a award winning management consultancy specialising in Procurement /Supply Chain, Stakeholder Engagement, Business advisory and Innovative Futures services across Australia and the Asia/Pacific region. We are focused on empowering relationships and working with our customers to enhance their commercial and social outcomes within their supply chain and across communities. Get in contact with us today.

Murray SaylorComment